ITV PLC Directorate Change (2684G)
November 05 2018 - 1:00AM
UK Regulatory
TIDMITV
RNS Number : 2684G
ITV PLC
05 November 2018
ITV Announces Appointment of Chris Kennedy as Chief Financial
Officer
ITV plc is pleased to announce the appointment of Chris Kennedy,
currently CFO of Microfocus International plc, as CFO. Chris is
expected to join ITV on 1 February 2019.
Sir Peter Bazalgette, Chairman of ITV, said:
"Chris was the stand out candidate in a very strong short list
and the Board are really pleased that he will bring his experience
and expertise to ITV. He has a great media background from his 17
years at EMI and he has built on that as a CFO of three FTSE 100
companies."
Carolyn McCall, CEO of ITV, said:
"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 and I know he will work really well with the senior
leadership team of ITV."
Chris Kennedy commented:
"This is an exciting time to be joining ITV. I'm looking forward
to working with the team to execute the strategy and deliver value
for shareholders."
Chris is currently CFO of Microfocus the software business where
he was brought in to bed in and drive value from the merger with
Hewlett Packard's software business which tripled the size of the
business and took it into the FTSE 50. Prior to that he was CFO at
Arm Holdings where he was a key player in GBP24 billion, 60+ p/e
sale of Arm to SoftBank.
Before that Chris was CFO at easyJet plc from 2010 to 2015
during which time the share price quadrupled, dividend payments
were introduced and the company joined the FTSE100. For his
achievements during this period Chris was voted FTSE 100 CFO in
2015.
Chris spent 17 years at EMI in a variety of roles principally
financial but including supply chain, sales, business development
and general management. His last role was as Chief Investment
Officer reporting to the CEO and new owner Terra Firma and included
investment and content licensing deals including those with new
digital players.
Chris is currently a non-executive director of Whitbread
plc.
Chris will succeed Ian Griffiths following the announcement on
28 June 2018 of Ian's intention to retire from ITV. Ian will be
supporting a handover to Chris and will step down from the Board in
December 2018 and formally leave ITV at the end of March 2019.
Note to Editors
1. As Group CFO of ITV, Chris will receive an annual salary of
GBP660,000 and a pension allowance of 9% of salary. He will also be
able to participate in the Company's existing annual bonus plan up
to a maximum of 165% of salary, and the long-term incentive plan up
to 225% of salary. This provides broadly the same remuneration
opportunity as to ITV's previous CFO, inclusive of the potential
2019 annual salary review. Chris will also receive awards to
compensate for remuneration arrangements forfeited on leaving his
previous employer. All remuneration arrangements are consistent
with the terms of the Directors' Remuneration Policy approved by
shareholders at the AGM in May 2017.
2. ITV confirms that no further disclosure is required under Listing Rule 9.6.13.
LEI for ITV plc - ZLECI7ED2QMWFGYCXZ59
For further information, please contact:
Investor Relations
Pippa Foulds +44 20 7157 6555 or +44 7778 031097
Charlotte Parker +44 20 7156 6476
Media Relations
Paul Moore +44 7860 794444
Jenny Cummins +44 7157 3017
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END
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