ITV FD steps down

ITV finance director Henry Staunton has stepped down, the company said in a
stock exchange announcement today.

ITV was formed last year out of a fraught merger between Carlton and Granada.
Staunton had been FD at Granada since 1993.

He is set to remain as FD until a successor is appointed, the announcement

Charles Allen, ITV chief executive, said: ‘Henry and I have worked closely
together for more than 12 years during which time he has unfailingly delivered
on the board’s requirement for strong financial control, and has been at the
very centre of many major acquisitions and mergers that have been successfully

‘Henry leaves us with our very best wishes for the future and our thanks to
him for agreeing to stay on until we have located a successor.’

Staunton said: ‘I have very much enjoyed my time with Granada, helping to
build the business over the years, and now culminating with the completion of
the merger creating ITV.

‘As we restructure the business to improve the integration of internal
functions, and better serve our viewers and advertisers, I am pleased to stay
and help in that process whilst a successor is identified.’

Staunton goes as ITV looks to put in place a top team and structure to
‘position itself for growth in the digital age’.

He is reportedly set for a £600,000 payoff, and remains in the role until a
replacement can be found.

Granada finance director William Medlicott serves as acting head of new
division ITV Worldwide, which encompasses all international productions and
third-party sales, until a permanent appointment is made.

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