Senior ITV Director Etienne de Villiers Steps Down
ITV has announced the resignation of one of its most senior non-executive directors, as Etienne de Villiers steps down from his position after less than a year, sparking rumours of further management reshuffles at the UK’s largest commercial broadcaster.
De Villiers’ decision takes effect immediately, although ITV claims his resignation was planned and is ‘consistent with his position at the time of [ITV’s] merger’. The ex-director had expressed a desire to reduce his commitments and ITV claims the move shows the business on an even keel and following predefined plans.
Appointed to the board of ITV in 2003, the outgoing director also sat on the board of Carlton between 2001 and 2004. A close ally of former Carlton chairman Michael Green, de Villiers drew criticism earlier this year as he approved a massive £15 million payoff for the former ITV chairman, sparking shareholder revolt and narrowly avoiding being ousted himself (see Investor Backlash Could Force ITV Directors Out).
Explaining his resignation, de Villiers said: “I agreed to join the Board at the time of the merger to ensure that it was constructed in an even-handed way and that a chairman was appointed who would look after the interests of all constituents. Those objectives have been achieved and ITV is in a strong position for the future. While I am sorry to leave a group whom I respect and a business I enjoy, the workload is greater than the time I have available.”
Sir Peter Burt, chairman of ITV added: “Etienne has made a significant and valuable contribution to ITV and at a personal level, I have benefited hugely from his insights and input. So his resignation makes it a sad day. However, I recognise his concerns about the volume of work involved and his need to reduce his commitments to a more manageable level. We wish him well.”
Reports suggest that further resignations from ITV’s board may be announced in the near future, with former head of Lloyds TSB Sir Brian Pitman, and Sir George Russell favourites to step down. The move comes just days ahead of ITV’s first profits announcement, due on Thursday, in which the company is expected to explain its poor performance since its merger. The broadcaster’s shares have fallen below 140p, the price at which they were valued at the time of its merger.
ITV recently revealed ambitious plans to launch a raft of new channels over the next five years in an effort to compete more effectively against the BBC in the burgeoning multi-channel environment. The broadcaster is currently struggling to maintain its audience share, and may be forced to pay out £100 million in compensation to advertisers unless it can reverse the situation (see ITV Drops Peak-Time Shows To Avoid Viewing Slump).
ITV: 020 7843 8000 www.itv.com
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