ITV chief Adam Crozier to step down

03 May 2017  |  Ellen Hammett 
ITV chief Adam Crozier to step down

ITV has announced that its chief executive Adam Crozier is stepping down after seven years in the role. He will officially depart on 30 June.

The broadcaster said its finance director Ian Griffiths will take on a new combined role of chief operating officer and finance chief, while chairman Sir Peter Bazalgette will become executive chairman, until a long-term successor is found "in due course".

Crozier joined ITV, the UK's biggest free-to-air commercial broadcaster, from Royal Mail in 2010. Since then, ITV's shares have increased by 250%, while its market capital has grown from £2.7 billion to £8.3 billion.

However, in March the broadcaster reported a -14% drop in annual pre-tax profis to £553 million, as advertising revenues declined by -3%. Crozier said the decline in ad revenues was a result of "wider political and economic uncertainty".

The news of Crozier's departure comes shortly after Channel 4 chief exec David Abraham also announced that he would be giving up the helm of one of the UK's biggest commercial broadcasters after seven years. He is going on to set up a new media enterprise in 2018.

Latest

Why you need a chief data officer Where are we on the path to programmatic perfection? Rebecca Mahony named Media iQ CMO The Pool to launch £3 'VIP' subscription newsletter Grey London and Volvo win Channel 4's £1m diversity ad award

Related articles

EasyJet's Carolyn McCall named new ITV chief executive Channel 4 chief executive David Abraham to step down ITV profits rise 9%, but Brexit uncertainty looms
Leave a comment

Thank you for your comment - a copy has now been sent to the Newsline team who will review it shortly. Please note that the editor may edit your comment before publication.

CHART OF THE DAY

24 Jul 2017 

Data from Mediatel Connected
Find out more about the UK's most comprehensive aggregator of media data.

Arrange a demo
Advertisement

Newsline Bulletins

Receive weekly round-ups of the latest comment, opinion and media news, direct to your inbox.

More Info
Advertisement