LONDON (Reuters) - British chip designer ARM Holdings (LONDON:ARM) has picked Chris Kennedy to be its new finance boss, poaching the well-respected chief financial officer from fellow FTSE 100 company easyJet.
easyJet said Kennedy would stay in his current role while it looks for a successor, under the terms of his contract which has a year notice period.
Kennedy, who has been at easyJet for almost five years during which time the company has powered into Britain's bluechip index, will replace Tim Score, who has already announced he plans to retire from ARM.
Kennedy, a former executive at EMI Music, said the decision to leave easyJet was a difficult one but he didn't want to miss the opportunity to work for one of Britain's foremost technology companies which supplies Apple and Samsung.
"The opportunity to work for ARM in a sector in which I have had a long held interest is the right move for me at this time," he said.