Former Five chief executive, David Elstein, has quashed rumours that he is looking to move into the chief executive role at ITV, should the proposed merger of Carlton and Granada proceed.
Speaking at the weekend’s Guardian Edinburgh International Television Festival (GEITF), Elstein denied any interest in an executive role at ITV, despite his proposals recommending replacements for current heads Michael Green (Carlton) and Charles Allen (Granada) following the merger.
Under Elstein’s proposals, former BSkyB finance director, Richard Brooke, and former Five finance director, Damien Harte, would be brought in to take up lead roles at the ITV business, whilst Elstein would himself remain in a non-executive, advisory position.
It is understood that Brooke would take up the position of finance director, whilst Harte would oversee the integration of Carlton and Granada’s businesses.
Whilst Elstein is taking his proposals to ITV shareholders – some of whom are keen to remove Green and Allen – his plans to launch a venture capital-backed takeover for the combined ITV business appear to have been shelved (see Venture Capitalists Eye Carlton And Granada). “I am not planning any takeover,” Elstein told the AFX News agency at GEITF.
