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ITV Chief Executive Adam Crozier to Step Down

Variety logo Variety 5/3/2017 Variety Staff
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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 around the business and building a more global and diversified organization with real scale in key creative markets around the world.”

Bazalgette added: “He has also built a very strong management team and a clear strategy that this team will remain focused on delivering. Coupled with our robust balance sheet and strong underlying cash flows Adam has created a real legacy that will allow ITV to continue to invest and also deliver sustainable returns to shareholders.”

Crozier said: “It’s been an absolute privilege to lead the transformation of ITV over the past seven years, and I know that I will miss this great business and the people who work here. However, having spent 21 years as a chief executive across four very different industries, I now feel that the time is right for me to move to the next stage of my career.”

He added: “I’m incredibly proud of what we’ve achieved in turning ITV into one of the most successful and dynamic media and content businesses in the world. All the credit for that achievement goes to the fantastic teams of people working right across ITV.”

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