This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Media
Grade to step down as exec chairman at ITV
By CMU Editorial | Published on Thursday 23 April 2009
Michael Grade is to stand down as Chief Executive of struggling commercial telly giant ITV, though he’ll stay on as the firm’s Chairman.
When Grade joined the broadcaster in 2007 as hands on Executive Chairman, doubling up as CEO, he said he’d only be hands-on for up to three years and would then look to appoint a separate CEO and take a more back seat Non-Exec Chairman role. Grade told the City this morning the time is now right to start looking for that CEO, and he hopes to have someone in place by the end of the year.
Grade, of course, has been trying to rejig ITV so to better cope with the growing competition for less advertising money, streamlining the firm’s operations and lobbying for a change in rules that govern its public service obligations and the amount of advertising the TV firm can air on its flagship terrestrial channel. There are mixed opinions in both TV and investment circles as to how successful that rejigging has been, especially in light of recent staff culls.
