ibusinesslines.com
ibusinesslines.com September 21, 2017


EasyJet chief McCall appointed to lead ITV

17 July 2017, 03:36 | Kelvin Horton

EasyJet chief McCall appointed to lead ITV

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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.



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