Published: Mon, July 17, 2017
Markets | By Noel Gibbs

EasyJet CEO McCall to step down

EasyJet CEO McCall to step down

In March 2010, McCall was made CEO of Easyjet and was appointed DBE in the 2016 New Year Honours for services to the aviation industry. "Get Me Out of Here!" is stocked with people including Bazalgette who know how to make TV shows, according to DeGroote.

"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", said ITV chairman Peter Bazalgette.

"In a very impressive field of high caliber 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", Bazalgette said.

"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".

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"Carolyn built and led the management team that has transformed Easyjet's performance in every respect since 2010".

That may not be true of easyJet founder and major shareholder Stelios Haji-Ioannou who has repeatedly upbraided McCall and the easyJet board for high spending on planes and new routes rather than returning money to shareholders.

She added: "I'm really pleased to be joining ITV".

She will receive an annual salary of £900,000 - but is eligible for an annual bonus to a maximum of 180 per cent of salary, a long-term incentive plan up to 265 per cent of salary and a generous 15 per cent pension allowance.

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McCall, who was chief executive at newspaper publisher Guardian Media Group before taking the helm at easyJet in 2010, will start at ITV on January 8, 2018, the company said.

Early frontrunners to be McCall's successor include Peter Duffy, the company's commercial director, and Andrew Findlay, its chief financial officer. I have had an unbelievable seven years at EasyJet, I am so proud of what the airline and its people have achieved in that period.

Carolyn has been a non-executive director of Burberry since 2014. Last week EasyJet announced its plans for a new European subsidiary based in Austria, which will help it continue to fly within Europe post-Brexit.

"We see Carolyn McCall's strengths as very similar to those of outgoing CEO, Adam Crozier", said Liberum Capital analyst Ian Whittaker.

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