ITV appoints new chief executive, Archie Norman

ITV has finally appointed a chief executive to replace Michael Grade

Archie Norman, former Conservative MP and Asda chief executive, ended the two-month search.

Norman will take up the post in January after Grade has bring ITV through a difficult period of recession.

The news of the new chairman brought ITV's share prices up 4.7% to 54.5p at 9 am this morning.

When Grade steps down in January, John Crewsswell, chief operating officer, will serve as interim chief executive while Norman gets a hang of the ropes.

ITV also announced that Sir James Crosby, the senior independent director, will stand down from the board when a successor is appointed. Mr Crosby had been heading the search for a new chief.

Michael Grade is supportive of Norman's appointment.

Source: Media Guardian

Published on: 18/11/2009 14:21:00