Adam Crozier is signing off as chief executive of broadcaster ITV PLC (LON:ITV) after a seven year stint in the job.
The 'Coronation Street' and 'Downton Abbey' broadcaster said it has a well developed succession plan in place and a longer term successor to Crozier will be announced in due course.
In the meantime, chairman Sir Peter Bazalgette will take on executive duties, while finance director Ian Griffiths will lead the executive team for an interim period in a newly combined role of chief operating and group finance director.
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“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 and to build a portfolio of roles across the PLC and private sectors,” Crozier said.
Crozier will leave the business on 30th June 2017. He will be paid in line with his contract and “in recognition of his tremendous contribution to the success of ITV”, the company's stock market announcement said.