ITV begins hunt for successor as Allen exits

by Mark Banham, Brand Republic 08-Aug-06, 09:00

LONDON - ITV has confirmed that Charles Allen is to step down from ITV by October 1 and be replaced by interim chief executive, John Cresswell, until a permanent successor can be found.

Creswell is currently the finance director at the broadcaster.


The announcement comes after widespread speculation over the last two weeks that ITV would announce Allen's departure after meeting with the broadcaster's board last night. It has been reported that Allen could be in line for a payout of as much as £10m.

The search for a permanent successor will start immediately with headhunters appointed to the task.


Allen has been at Granada and then ITV for 15 years, 10 of which have been as chairman or chief executive. 


During that time he led the consolidation of ITV, culminating in the merger of Granada and Carlton Communications to create a single ITV in early 2004.


Sir Peter Burt, chairman of ITV, said: "The Board of ITV plc owes its thanks to Charles for his success in creating a single ITV company from the federal structure that he inherited and for preparing the company for television in the digital age.
 
"Charles has done an excellent job over the past two years in integrating the business after the merger, in reducing costs and in reducing the burden of regulation on ITV and, at the same time, developing ITV's successful family of digital channels.  The growth in the company's business and profits since the merger reflects that success."


Allen said: "I have enjoyed enormously my 15 years with Granada and ITV and especially in creating a single ITV Company and shaping the nation's number one commercial broadcaster as a major player in the digital age. 


"Over that time I have worked with the most talented and creative people in the industry and am pleased that so many of them are now in the strong management team that is implementing our strategy to develop ITV's businesses for the future."


Join the debate on Brand Republic's Forum. What is the future for ITV now account Charles Allen has finally admitted the game is up? Will it embrace a radical new programming strategy that does not rely on the likes of duds like 'Love Island' or will it just be swept away?

Comments

Have your say

Only registered users may comment. Log in now or register for a free account.

* This information is required.

*
*

Forgotten password?

 

Jobs

Directory