Directorate Change

RNS Number : 1383L
ITV PLC
02 January 2019
 

January 2, 2019

 

ITV COO AND CFO IAN GRIFFITHS STANDS DOWN

 

Further to the announcement on 27 June 2018, ITV confirms that Ian Griffiths stepped down from the ITV plc Board on 31 December 2018.

 

Ian Griffiths will leave the business on 31 March 2019.  Details of remuneration are as set out below -

 

·    Salary, pension allowance and other contractual benefits will continue to be paid until 31 March 2019.

 

·    A payment in respect of salary, car allowance and pension allowance for the unexpired period of his notice shall be made in April 2019. Other benefits will be paid until the end of the notice period, 30 September 2019.

 

·    Any unvested nil-cost options awarded under the ITV Long Term Incentive Plan will be pro-rated to 31 March 2019 and vest as detailed below:

 

-    2015 Award (vested in March 2018) will become exercisable in March 2019.

-    2016 Award - will vest in March 2019 and become exercisable in March 2021.

-    2017 Award - will vest in March 2020 and become exercisable in March 2022.

-    2018 Award - will vest in March 2021 and become exercisable in March 2023.

 

·    Any unvested shares under the Deferred Share Award Plan made in March 2016, 2017 and 2018 will vest on normal vesting dates (March 2019, 2020 and 2021).

 

·    A performance related bonus for the 2018 bonus year will be paid in March 2019.

 

 

 

 

ENDS

 

Enquiries:

Media Relations

Paul Moore      +44 7860 794444

 

Investor Relations

Pippa Foulds    +44 20 7157 6555 or +44 7778 031097


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ITV (ITV)
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