ibusinesslines.com
ibusinesslines.com July 26, 2017


EasyJet chief McCall appointed to lead ITV

17 July 2017, 03:36 | Kelvin Horton

The 55-year-old easy Jet boss Dame Carolyn Mc Call is set to replace Adam Crozier at ITVEMMANUEL DUNAND AFP GETTY IMAGES

The 55-year-old easy Jet boss Dame Carolyn Mc Call is set to replace Adam Crozier at ITV

McCall said it was a hard decision to leave easyJet, but after seven years the opportunity from ITV felt like the right one to take.

ITV said McCall's total remuneration would be "broadly the same" as that of Crozier.

McCall is expected to leave "around the end of the year" after seven years at the helm, with the search for a successor already underway.

In July 2017, McCall was confirmed as the new chief executive for ITV, another FTSE 100 listed company.

ITV, which has been battling a slowdown in advertising as well as takeover speculations, said that she will also be able to "participate in the company's existing annual bonus plan" under which she will be eligible for up to a maximum of 180 per cent of salary. "I'm delighted we'll be working together at ITV", said chairman Peter Bazalgette.

"This has led to sustained and continuing financial success which has been shared with shareholders with a more than trebling of Easyjet's share price and the payment of £1.2 billion in dividends".


ITV shares were marked 1.8% higher in early London trading and changing hands at 178 pence each by 08:30, trimming their three month decline to around 18% amid concerns over slowing advertizing revenue. easyJet shares were seen 0.75% lower at 1,397 pence each.

"We also think her experience within media (at the Guardian) is a key positive", they said.

The broadcaster will pay McCall an annual salary of 900,000 pounds and a pension allowance of 15 percent of her pay.

The airline said last week it would establish a new airline in Austria to protect its flying rights in the European union once Britain leaves the bloc. I have had an fantastic seven years at EasyJet, I am so proud of what the airline and its people have achieved in that period.

The next EasyJet CEO must "increase focus on cost management and possible restructuring", Daniel Roeska and Caius Slater, analysts for Sanford C. Bernstein, wrote Sunday in a note to investors.

EasyJet shares are down 8 percent since the Brexit vote in June 2016 after having lost about a third of their value after the referendum.



Other News

Trending Now

Marco van Ginkel heads to PSV Eindhoven for third loan spell
Marco van Ginkel is set for another loan deal after PSV confirmed they had reached an agreement with Chelsea for the midfielder. PSV have been desperate to take Van Ginkel back to the club and have now succeeded.

Carillion, partners win £1.4 bln in contracts
He has been replaced by Mr Cochrane on an interim basis while a search is undertaken for a permanent boss. EY has been brought in with a specific focus on cost reduction and cash collection.

(XOM) Shares Bought by Quotient Investors LLC
Locust Wood Capital Advisers Limited Liability Company, New York-based fund reported 26,413 shares. (NASDAQ:BNCL). Hightower Advsr Ltd Liability Com has 1.54% invested in Exxon Mobil Corporation (NYSE:XOM) for 1.57M shares.

Call of Duty WW2 Zombies trailer LEAKS and Sledgehammer is FURIOUS
Both Sledgehammer and Sledgehammer's boss and co-founder Glen Schofield have taken to Twitter to express their disappointment. He then asked Call of Duty community to avoid the leaked trailer, and wait for few more days for the official one.

Liverpool closing in on highly-rated Hull star
As a result, Arsenal should have one fewer competitor for Van Dijk's signature if they decide to make a move for him. It's not that we don't want to spend. "It is not about a number". "It's not that we don't want to spend.

Chance the Rapper Announces That 'SoundCloud Is Here to Stay'
The three-time Grammy victor also asked fans to shout-out the music they discovered on SoundCloud through the years. SoundCloud CEO Alex Ljung said in an announcement , " SoundCloud is not going away".

AS Journalist reveals Chelsea will make bid for Sergio Aguero
Premier League holders Chelsea could reportedly land the services of Sergio Aguero during this summer's transfer window. Chelsea are on the lookout for a new striker after Antonio Conte told Diego Costa he was surplus to requirements.