ITV boss to step down from role after seven years
THE head of ITV — who was in charge as the broadcaster took over UTV last year — is stepping down after seven years at the helm.
Adam Crozier will leave the company on June 30, with a long-term successor to be revealed “in due course”.
ITV chairman Sir Peter Bazalgette will take on the role of executive chairman, while Ian Griffiths will become the combined chief operating officer and group finance director.
In a statement, Sir Peter said: “Adam has been talking to me and the board for some time now about his future plans.
“He has made a fantastic contribution to ITV and the board is deeply indebted to him for his strong leadership and personal dedication in very successfully turning around the business and building a more global and diversified organisation with real scale in key creative markets around the world.”
Mr Crozier had stints as the chief executive of advertising agency Saatchi & Saatchi, the Football Association and the Royal Mail Group, before taking the top position at ITV in 2010.
Since then, the broadcaster’s share price has climbed more than 270% as investors cheered efforts to guide the business away from a heavy reliance on the turbulent advertising market and towards making and selling hit shows to other broadcasters.
The hunt for Mr Crozier’s successor started in December, with Sir Peter hiring head-hunting firm Spencer Stuart to search for long-term replacements for both the chief executive and Mr Griffiths.
Mr Crozier said he now planned to move to the next stage of his career and “build a portfolio of roles” across the PLC and private sector.
ITV bought over UTV in a £100m deal last year. UTV is set to say goodbye to 59 years of history when it leaves Havelock House, its historic home on Ormeau Road in Belfast. It’s understood protracted negotiations are taking place between commercial property agents Lambert Smith Hampton, acting for UTV, and Belfast Harbour, developer and owner of City Quays 2.