ITV names new CEO

UK commercial broadcaster ITV has confirmed the chief executive of budget airline EasyJet as its new CEO.

McCall: jetting in to ITV

Carolyn McCall, who emerged as frontrunner to replace outgoing CEO Adam Crozier earlier this month, will take up the role on January 8 next year.

McCall joined EasyJet in 2010, turning the company into one of Europe’s key airline carriers, and before that was CEO of Guardian Media Group.

As CEO, McCall will receive an annual salary of £900,000 (US$1.2m) and a pension allowance of 15% of her salary.

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.

Peter Bazalgette, who as chairman of ITV led the recruitment process, said: “In a very impressive field of high-calibre candidates, Carolyn stood out for her track record in media, experience of an international operation, clear strategic acumen and strong record of delivering value to shareholders. I’m delighted we’ll be working together at ITV.”

ITV’s Ian Griffiths moved to a newly created combined role of chief operating officer alongside his previous position as group finance director following confirmation Crozier was leaving ITV in May.

McCall has been a non-executive director of fashion firm Burberry since 2014 and sits on the board of the Department of Business, Energy and Industrial Strategy. She is a trustee at the Royal Academy and has also held non-executive director roles with Lloyds TSB, Tesco and New Look.

The appointment follows that of former Shine chief Alex Mahon as CEO of Channel 4. Meanwhile, two other UK broadcasters, BT and STV, remain on the hunt for new bosses.

Crozier is widely considered to have turned around ITV’s fortunes since replacing Michael Grade as CEO in 2010, although the firm has been hit by concerns over advertising revenues after the UK’s decision to leave the European Union.

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.

The broadcaster has been on the acquisitions trail since 2015, going on a buying spree that has seen it acquire UK indie Twofour, Poldark producer Mammoth Screen and John de Mol’s Talpa Media.

In April it bought French drama producer Tetra Media Studio and in May took a majority stake in Line of Duty producer World Productions.