RNS Number : 6897Z
25 September 2009
UPDATE FROM ITV PLC
The Nominations Committee of the Board of ITV plc announces that it has terminated its discussions with Tony Ball. The Committee has negotiated exhaustively with Mr Ball, and throughout has been fully cognisant of, and responsive to, the views of its shareholders.
The process of negotiation and discussion has highlighted a number substantial differences, including a failure to finally agree contractual arrangements, together with a disagreement over the future Chairmanship. The Committee has therefore concluded that it would not be in the best interests of the Company to appoint Mr Ball as ITV plc's Chief Executive.
During the Chief Executive search process, it was agreed between the Committee and Michael Grade that whatever the outcome he would stand down as Chairman. The search process for a new chairman is well advanced and discussions are ongoing with a number of external candidates. The Committee is confident of appointing a new non-Executive Chairman in the near future. The first task of the new Chairman will be to appoint a new Chief Executive.
The Committee is pleased that Michael Grade has agreed to continue to lead the Company as Executive Chairman until the new non-Executive Chairman is appointed and in post.
For further information:
Christy Swords - Director of Investor Relations Tel: 020 7157 6572
Pippa Foulds - Head of Investor Relations Tel: 020 7157 6555
Press queries Tel: 0207 156 7266
Mark Gallagher - Director of Group Corporate Affairs Tel: 020 7156 7267
Louise Evans - Head of Corporate Communications Tel: 020 7156 7358
Tulchan Communications Group Tel: 020 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange