ITV’s chief executive Adam Crozier is to step down, the U.K. broadcaster said Wednesday.Ian Griffiths, group finance director, will step up to a newly created combined role of chief operating officer and group finance director. He will also lead the executive team for an interim period, with Peter Bazalgette, ITV chairman, taking on the role of executive chairman after Crozier’s departure on June 30.In a statement, Bazalgette paid tribute to Crozier’s “strong leadership and personal dedication in very successfully turning...
Adam Crozier joined ITV as chief executive in 2010, and set about implementing a new strategy that would reduce the company’s over-reliance on the U.K. advertising market.
Since 2009, its revenue has grown 58% to 2.97 billion GBP ($3.77 billion), and non-advertising revenue has grown 96% to 1.66 billion GBP ($2.11 billion).
Production and sales contribute a major proportion of that. ITV Studios, its production division, produced more than 7,000 hours of original content in 2015.
Among its successes have been costume drama “Poldark,” which has sold to 107 countries, and “Hell’s Kitchen USA,” which has been sold to 196 countries.
Much of its production growth has been enabled by means of an aggressive acquisitions policy, buying companies like John De Mol’s Talpa Media, which produces “The Voice,” and Leftfield Entertainment, which produces “Real Housewives of New Jersey.”
ITV has done this while maintaining its strong position in the U.K. free-to-air market. Its channels have a 21.2% share of viewing in the country, and 46.1% of its television advertising market.
Prior to joining ITV, Crozier spent seven years as chief executive of Royal Mail, where he led its modernization. He took the U.K.’s postal service from losing more than 1 million GBP ($1.27 million) a day to making 1 million GBP ($1.27 million) a day. He was CEO of English soccer’s governing body, The Football Assn., between 2000 and 2002, and joint CEO of advertising agency Saatchi & Saatchi from 1995-2000.