LYN McCall, former Guardian Media Group boss, will see her pay almost double once she takes over as chief executive of low cost airline easyJet.
It is understood that McCall, who in 2009 earned a salary of £498,000 at the Guardian, will step into a similar pay package as former easyJet chief Andy Harrison, whose earnings totalled £1.63m last year, including bonuses.
McCall will enter into a 12-month rolling contract at the airline giving her a base pay of £700,000, plus a 100 per cent performance based bonus.
EasyJet confirmed her appointment yesterday, although a start date is still being worked out.
“Following a thorough process involving a number of high calibre candidates we have unanimously chosen a strong chief executive with the strategic ability, operational capability and passion to drive EasyJet through the next stage of its development,” said chairman Sir Michael Rake in a statement.
She joins from The Guardian after 24 years with the national newspaper group, where she held a number of executive roles, including a four-year stint as chief executive.
She has also held directorships at both Tesco and Lloyds Banking Group and was appointed to the board of New Look at the start of the year.
McCall joins easyJet after a spate of departures, including Harrison after clashing with founder Sir Stelios Haji-Ioannou over strategy. EasyJet also lost both its chairman and finance director prior to Harrison.