U.K. commercial broadcaster ITV announced Wednesday that Ian Griffiths, its chief operating officer and group finance director, is to retire in the next year. He will continue with his existing responsibilities until a successor has been appointed, ITV said.
The outgoing executive joined ITV in September 1998 as finance director and added the CFO role to his portfolio in April 2017. He was part of the team, under previous CEO Adam Crozier, that implemented a major turnaround and diversification plan at Britain’s largest ad-supported broadcaster, which also has a significant U.S. and international business.
Peter Bazalgette, chairman of ITV, said Griffiths had been “a key part of the management team that transformed ITV’s performance.” The strategy that Griffiths helped put in place had “created a strong platform for our future success and delivered real value for shareholders,” he added.
Carolyn McCall, ITV’s chief executive, said Griffiths would leave ITV in “strong financial health,” adding that he had helped her “steer the strategy refresh and will continue to be involved in embedding the implementation over the next few months.” McCall and ITV will unveil details of that new strategic initiative later this summer.
“I am immensely proud of everything that we have achieved at ITV, not least in keeping the business together through the financial crisis and then delivering strong shareholder returns from 2010 onwards,” Griffiths said. “I will be leaving a great team and a business in good shape.”