ITV share price little changed as group poaches Micro Focus’ finance chief

Chris Kennedy to take top finance job at broadcasting group

ITV share price little changed as group poaches Micro Focus’ finance chief

Shares in ITV (LON:ITV) have slipped marginally lower in London this morning, staying little changed as the blue-chip broadcaster appointed Micro Focus’ (LON:MCRO) CFO as its new finance chief. The move comes after earlier this year, the blue-chip broadcaster’s finance director chief operating officer Ian Griffiths unveiled plans to retire.

As of 09:57 GMT, ITV’s share price had slipped 0.1 percent lower to 155.60p, fractionally underperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.04 percent higher at 7,096.75 points. The group’s shares have given up 2.3 percent of their value over the past year, as compared with about a six-percent dip in the Footsie.

ITV appoints new finance chief

ITV announced in a statement this morning that it had appointed  Chris Kennedy, currently CFO of Micro Focus, to the top finance job at the company. He is expected to join the blue-chip broadcaster on February 1 next year.

“I am really pleased to be working with Chris again as CFO,” ITV’s chief executive Carolyn McCall commented in the statement. From 2010 to 2015, Kennedy was CFO of easyJet (LON:EZJ) where McCall was chief executive until last year.

Today’s update comes after the blue-chip broadcaster recently said that it does not intend to bid for Endemol Shine, the company  behind programmes such as Big Brother, The Fall, MasterChef and Peaky Blinders.

Analysts on blue-chip broadcaster

The 17 analysts offering 12-month price targets for ITV for the Financial Times have a median target of 190.00p on the shares, with a high estimate of 260.00p and a low estimate of 110.00p. As of November 2, the consensus forecast amongst 19 polled investment analysts covering the blue-chip broadcaster has it that the company will outperform the market.  

As of 10:04 GMT, Monday, 05 November, ITV plc share price is 155.50p.

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