ITV names Adam Crozier as chief executive

Crozier will take up his role later this year. He is currently chief executive at Royal Mail and is a former .chief executive of the Football Association.

He was a joint chief executive at ad agency Saatchi & Saatchi in the early 90s.

His appointment comes hot on the heels of Channel 4 appointing UKTV chief executive and former ad man David Abraham as its CEO.

Crozier’s appointment completes ITV’s long-running search for a CEO to partner recently appointed chairman Archie Norman.

Norman says: “I am thrilled that Adam is joining us as chief executive. ITV is a strong brand with talented people, facing an imperative for change as the media landscape evolves. Adam is a very strong leader with a great track record in delivering transformational change. He has worked successfully in talent-driven organisations, with government and regulators, and has a thorough understanding of the media, advertising and branding industries.

“In his seven years at the Royal Mail, Adam has transformed the Group from a loss-making organisation into a profitable business that last year doubled its operating profits to more than £320m. He implemented a £2bn transformation programme and established the Post Office as a leading brand in financial services, with a fast-growing on-line business.”

John Cresswell, remains in place as interim Chief Executive until Crozier joins.

ITV has been seeing rising ad revenues alongside strong audience figures for key shows like The X Factor. However, it is still hampered in its ability to drive revenues by the Contract Rights Renewal mechanism. The Competition Commission is currently in consultation about its final proposals for amendments to CRR.

BSkyB has just lost its appeal against an order to sell down its 17.9% stake in ITV to below 7.5%.