BusinessCompany NewsFinance redundancies expected at ITV plc

Finance redundancies expected at ITV plc

The £4bn merger of Carlton and Granada to form broadcasting giant ITV plc will result in finance staff redundancies over the next two or three months.

A comprehensive majority of shareholders voted in favour of the deal yesterday, as Michael Green, Carlton chairman, stepped down. Charles Allen, chairman of Granada, will take over the reigns as chief executive of the merged company, with Henry Stauton, current FD at Granada, continuing in his role.

Susan Donovan, director of communications at Granada, said: ‘When you put two plcs together it’s inevitable that you get duplication. That is currently being worked through.’ She said that the group finance department should be confirmed within ‘a couple of months’.

As part of the merger process the companies have pledged to save £100m in costs.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor