ITV PLC Appoint Carolyn McCall as New Chief Executive

From airline to the airwaves

From airline to the airwaves

Carolyn McCall will be the next chief executive of ITV, the British commercial broadcaster announced Monday.

The FTSE 100-listed budget airline said McCall will step down around the end of the year, and that it has already begun the search for her replacement.

"It is a fantastic company in a dynamic and stimulating sector", Ms McCall said. She was also chief executive of the Guardian Media Group (GMG), publisher of the Guardian and Observer. The news follows that of Alex Mahon joining Channel 4, putting female leaders at the helm of Britain's two largest commercial broadcasters.

Peter Bazalgette, chairman of ITV, 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".

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"In a very impressive field of high calibre candidates, Carolyn stood out for her track record in media, experience of an global operation, clear strategic acumen and strong record of delivering value to shareholders", he said.

Among the TV production companies ITV has acquired in recent years are Dutch firm Talpa, Gurney Productions, the company behind Duck Dynasty, Real Housewives of New Jersey producer Leftfield, Cake Boss maker High Noon Entertainment and Hatfields & McCoys producer Thinkfactory Media.

"I speak for absolutely everyone at easyJet in saying we will be sorry to see Carolyn leave and that we wish her well in her exciting new role".

McCall will receive an annual salary of £900,000 ($1.18 million) and a pension allowance of 15 percent of her salary.

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But McCall won't have it much easier at ITV, which is contending with a weak advertising market as business confidence takes a hit from Brexit uncertainty.

He added she has left Easyjet "well set for future success", with the share price trebling and the payment of £1.2bn in dividends to shareholders during her time. "After seven years, the opportunity from ITV felt like the right one to take". A key component of the strategy was buying production companies, notably in the US, where its acquisitions included Leftfield Pictures, Gurney and Diga.

However, under the performance share plan McCall will be eligible for 265% of salary, while Crozier was awarded 225%.

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