November 5, 2018 / 7:19 AM / 12 days ago

ITV poaches Micro Focus' CFO Kennedy to reunite with McCall

LONDON (Reuters) - British broadcaster ITV (ITV.L) has poached Micro Focus International’s (MCRO.L) Chris Kennedy to be its new finance chief, re-uniting him with Chief Executive Carolyn McCall, his former boss at airline easyjet (EZJ.L).

ITV said on Monday that Kennedy, who has only been at Micro Focus since January, was expected to start as ITV’s chief financial officer on Feb. 1 next year, succeeding Ian Griffiths who is retiring.

Kennedy was CFO at easyJet from 2010 to 2015, during which time the share price quadrupled, dividend payments were introduced and the company joined the FTSE100. He has also worked for EMI and Arm Holdings.

“I am really pleased to be working with Chris again as CFO. He will play a huge role in helping us deliver our new More Than TV strategy,” said McCall.

Kennedy will receive an annual salary of 660,000 pounds and a pension allowance of 9 percent of salary. He will also be able to participate in ITV’s annual bonus plan up to a maximum of 165 percent of salary, and the long-term incentive plan up to 225 percent of salary.

He will also receive awards to compensate for remuneration arrangements forfeited on leaving Micro Focus.

ITV will give a trading update on Wednesday.

Reporting by James Davey; editing by Kate Holton

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