May 3, 2017

Adam Crozier to step down as chief executive at ITV after 7 years

Adam Crozier, ITV chief executive, is to step down at the end of next month after seven years in charge of the UK's biggest commercial broadcaster. In a statement on Wednesday, the media group paid tribute to Mr Crozier for his "Fantastic contribution" to ITV and for "Turning around the business and building a more global and diversified organisation". Under Mr Crozier, ITV has diversified from a TV business almost wholly reliant on the volatile advertising market into an international production house that not only makes hit shows for its own channels but sells them to other broadcasters. In the five years to the end of 2015, revenues from ITV's studio division increased by more than 50 per cent as it made hit programmes such as Cold Feet or sold popular dramas, including Poldark, to rival channels such as the BBC. Selling the global rights to its hit drama and entertainment shows has helped the company become more internationally diverse too, with around half of ITV's revenues coming from overseas in 2016. Mr Crozier said: "Going forward, our strategy remains the right one for ITV and I leave behind a strong and talented management team who I know will continue to execute it with energy and confidence."

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