Current ITV (LON:ITV) director Sir Peter Bazalgette has been chosen to succeed Archie Norman as chairman of the terrestrial TV group.
On the board as a non-executive since 2013, Bazalgette’s appointment suggests ITV are not looking to implement any further structural changes, according to analysts at Liberium, and puts to rest speculation that chief executive Adam Crozier would follow Norman out the door.
Bazalgette is likely to maintain a focus on prime content creation, suggested Liberum and his promotion could even point to a greater emphasis on reality entertainment given his background.
As former chairman of Endemol, he is credited with the creation of renowned TV show formats including Big Brother.
Liberum said: "The appointment suggests a continued emphasis in Bazalgette’s 'vast range of contacts across the media and political space' could also aid relations with the government and other broadcasters, giving ITV a firmer footing in the face of possible changes to transmission fees and TV production in the UK".
Bazalgette recently resigned as chair of the Arts Council England and is president of the Royal Television Society.
ITV’s viewing share fell by over 3% last year. The broadcaster depends on its big hit shows, with viewing figures and advertising revenue the key to Norman’s turnaround. But with the end of Downton Abbey and the Jekyll and Hyde flop, it has no new ones, and certainly none that are growing.
ITV’s senior independent director Andy Haste, who headed the search for Norman’s successor, said that a strong field of candidates had been considered.
“It was very clear to us that Peter is the right person to take on the role and we're delighted that he has accepted."
Former Asda boss Norman was brought in to rescue the broadcaster in 2010 as its advertising revenues struggled against online competitors.
Norman is due to step down at this year’s AGM after more than six years with the commercial broadcaster.
Under his stewardship, the broadcaster invested heavily in content acquisition and ITV shares quadrupled in value.
Norman said: “The ITV I am leaving has a great track record, brilliant people and enormous potential for future growth. I leave it in the very best of hands."
The directorial change comes at a decisive time for British broadcasting, as this year sees the BBC Charter Review and the possible privatisation of Channel 4.
Last month, Sky re-hired Fox CEO James Murdoch as its chairman and Channel 4 appointed easyJet boss, Charles Gurussa as chairman to replace Lord Burns.
“This is an incredibly exciting time for everyone in the media sector with change happening at an unprecedented rate, and I'm absolutely delighted to be working with the management team. TV is my first love,” said Bazalgette.