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28/02/2008

ITV Announce Senior Management Shake-Up

ITV has announced that Michael Grade has agreed to stay in post as Executive Chairman until the end of 2010, one year longer than his original three-year term.
Sir James Crosby, ITV plc's senior independent non-executive director, said: "It was the unanimous view of ITV's independent non executive directors that it would be in the best interests of the company and its shareholders to ask Michael to extend his time as Executive Chairman.
"This will deliver continuity and give the new executive team the opportunity to execute ITV's turnaround plan, restoring the company to growth and leading up to the CEO succession process."
Michael Grade commented: "ITV has already achieved a significant amount in a short time, with a clear three-five year strategy for growth. My new executive team has only just come together and having the extra 12 months of continuity is eminently sensible."
ITV has also announced that Dawn Airey, Managing Director - Global Content and Rupert Howell, Managing Director - ITV Brand and Commercial, have been appointed to join John Cresswell, Chief Operating Officer, as executive directors on the main Board with immediate effect.
Grade added: "Rupert and Dawn only joined ITV's top team in October, but have already delivered significant progress in their respective divisions. I am delighted to welcome them onto the main Board, alongside John Cresswell, who continues to provide day-to-day leadership of the executive team."
The Board has also agreed to split the roles of COO and Group Finance Director - currently held by John Cresswell - who will now commence recruitment of a Group Finance Director. This new appointment will also report to Cresswell.
Peter Fincham has been appointed ITV's new Director of Television. He succeeds Simon Shaps, who has headed ITV's channels division since 2005. Fincham, who was controller of BBC1 between March 2005 and October 2007, will take up his new post at ITV in the spring.
In his new role, Fincham will assume direct responsibility for ITV1, ITV2, ITV3 and ITV4, reporting - together with the rest of the executive team - to John Cresswell. Peter Fincham was recruited by Michael Grade and Simon Shaps as part of a formal succession process. Shaps initiated discussions with him and a formal offer was made and agreed earlier this month.
(DS)


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