ITV names Carolyn McCall as its first female chief executive

Gladys Abbott
July 17, 2017

McCall, the chief executive of airline EasyJet for the last seven years, will start the new job in January. The package provides "broadly the same remuneration opportunity" as Crozier had, ITV said.

During her tenure at EasyJet, McCall brought a customer-focussed approach to the business and redefined what passengers now expect from short haul flights.

Peter Bazalgette, Chairman of ITV plc, said: "In a very impressive field of high calibre candidates, Carolyn stood out for her track record in media, experience of an worldwide operation, clear strategic acumen and strong record of delivering value to shareholders".

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.

"For ITV, we think the move suggests the company is comfortable with its strategic direction but her strong personal links should be helpful in several areas".

Easyjet shares fell by three-quarters of a per cent in early trading, while ITV shares rose by nearly 1.5 per cent.

The company began its succession plan for Crozier earlier this year, when reports first emerged that the former Royal Mail boss would be stepping down after seven years as CEO.

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In replacing Adam Crozier, she has big shoes to fill.

ITV's most recent annual results were boosted by a substantial rise in revenue from its Studios division, but the commercial broadcaster has warned ad revenues are likely to fall amid economic uncertainty.

"We view this appointment as positive", Tamsin Garrity, an analyst at Jefferies, wrote in a note to clients.

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.

"She put Easyjet's passengers and people at the heart of the business". Easyjet announced yesterday it will establish a new airline in Vienna, Easyjet Europe, to ensure it can continue to operate after Brexit.

Weir Group shares soared 8 percent.

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