Lord Carter could replace Grade at ITV

Lord Carter, the communications minister who is currently composing the final Digital Britain report, has been mooted as a potential replacement for Michael Grade as ITV’s chief executive.

Yesterday, the commercial broadcaster announced that Grade would step down before the end of the year to become a non-executive chairman and allow the broadcaster to bring in a new chief exec (see Michael Grade to step down as ITV chief executive).

His decision is understood to have followed reports last month that ITV shareholders were pushing him to take a step back in return for pumping more money into the struggling broadcaster.

However, according to newspaper reports today, an ITV shareholder said: “As far as I’m aware no one was putting pressure on the company.”

ITV said Grade would stand down after Digital Britain and the conclusion of the Contract Rights Renewal (CRR) regulatory review process, which is expected to be complete by the end of the year.

The broadcaster is starting its search for a new CEO immediately and will look to appoint someone “as soon as practicable”.

Internal applicants are likely to include Rupert Howell, ITV’s managing director of commercial operations, chief operating officer John Cresswell and Peter Fincham, ITV’s director of programmes.

However, reports suggest that the ITV board is keen to conduct a wider search.

Carter is thought to be in the frame as an external candidate, alongside Channel 4’s former chief executive Michael Jackson, who became a non-executive director of STV earlier this week.

Tony Ball, a former chief executive of Murdoch’s satellite broadcaster BSkyB, has also been named as a potential candidate.

ITV shares were up by 0.5p at 31.5p in early trading today.