easyJet boss Carolyn McCall is quitting the Luton-based airline to become CEO of ITV plc. She is expected to leave around the end of the year and will meanwhile continue with her existing responsibilities. The search for a successor is already underway.
McCall said that after seven years in charge of the airline she felt the opportunity with ITV was too good to pass up.
easyJet chairman John Barton said McCall was leaving easyJet in good shape and had “built and led the management team that has transformed easyJet’s performance in every respect since 2010.
“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.”
McCall added: “This was a really difficult decision for me to make. I have had an amazing seven years at easyJet; I am so proud of what the airline and its people have achieved in that period.
“After seven years the opportunity from ITV felt like the right one to take. It is a fantastic company in a dynamic and stimulating sector. easyJet is a structural winner in a brilliant position, and I look forward to being a loyal customer in the years to come.”
easyJet’s Q3trading update will be issued on Thursday (July20). It expects to report that an improving revenue per seat trend, as outlined in the half year results in May, has been supported by strong third quarter load factors, as well as the continued reduction in market capacity growth and a significant benefit from the move of Easter to April.
Full year cost per seat at constant currency expectations remain in line with guidance, reflecting continued strong cost control with planned investments in resilience to support the delivery of improved operational performance during the summer months.
Operational performance for the quarter has improved as the investment in resilience has delivered improved on time performance across the network.
Near the end of June, Standard and Poor reaffirmed easyJet’s credit rating at BBB+, which the chairman said reflected easyJet’s “continued strong investment grade balance sheet.”