May 3, 2017

ITV chief executive Adam Crozier steps down

Mr Crozier built up ITV's production arm, reducing its reliance on shrinking advertising revenue. During the interim, ITV chairman Sir Peter Bazalgette will take on the role of executive chairman. Mr Bazalgette said in a statement that Mr Crozier "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". ITV said the company's revenue from sources other than advertising had more than doubled to almost £1.9bn in 2016, more than half of its total, under Mr Crozier's tenure. In early morning trading, ITV shares were down 1.75%..

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