ITV Shareholders Want New CEO By Christmas

ITV shareholders are urging the company to appoint a new chief executive by Christmas, according to a report in the Guardian.

The shareholders are apparently unhappy at the slow progress of the search for a replacement for Charles Allen.

The report says that headhunters Zygos have widened their search for a new CEO to include continental Europe and the US.

The Guardian quotes an unnamed investor as saying: “The board is in a tricky position. They don’t want to be bounced into just accepting the first person who chucks their hat into the ring. But they don’t just want to sit there and in three or four months’ time not have got somebody. It’s essential the board attempts to strike the right balance.

“The trouble is if you are a talented, chief executive calibre individual, I’m not sure this would be your number one job. So I think the search itself could be quite difficult. If you’re a good guy you wouldn’t necessarily want to put your reputation up against ITV.

“It’s reasonable to suggest if they didn’t have something definitive by the end of the year people would be pretty unhappy. They have got a bit of time, but not that much.”

Stephen Carter, former chief executive of Ofcom, remains the front runner for the ITV job (see Carter Is Favourite For Top ITV Job), after many of the names in the frame ruled themselves out of the running.

ITV: 020 7843 8000 www.itv.com