ITV has today announced the appointment of former Bank of Scotland chief executive, Sir Peter Burt, as its new non-executive chairman just weeks after the completion of the multibillion pound merger of Carlton and Granada.
Burt beat-off competition from Tesco chairman, John Gardiner, to take up the position left vacant last October after a coalition of institutional investors ousted Carlton boss Michael Green as chairman designate.
He will take up the position at the helm of the UK’s largest commercial broadcaster on 15 March after receiving approval from ITV’s nominations committee, which comprises all six of the broadcaster’s non-executive directors under the leadership of interim chairman, Sir Brian Pittman.
ITV has been keen to avoid candidates heavily involved in politics because of the regulatory and political lobbying tasks that are currently high on the broadcaster’s agenda. Instead, shareholders have been pressing for the appointment of a senior business figure who has performed and developed a relationship in the City.
Burt fulfils this requirement having been Bank of Scotland’s chief executive from 1996 until 2001, when it merged with Halifax to become HBOS. He has won plaudits from shareholders for his stewardship of the bank and is not known to be overtly political.
Commenting on the appointment, Pittman said: “Peter’s experience of generating value speaks for itself and I am delighted to welcome him to ITV. I have no doubt that his leadership and guidance will be enormously beneficial to both the merger process and the resurgence of ITV as a major force in UK television.”
Burt added: “ITV is having its best on screen year on year performance for ten years and there is a clear strategy in place which is beginning to show results. I am looking forward to working with Charles Allen and the management team to take this strategy forward to realise ITV’s enormous potential.
The new chairman will work alongside chief executive, Charles Allen, in shaping the future of ITV plc. The company is facing considerable integration challenges after the completion of its long-awaited merger, which is intended to allow it to create a leaner structure, with lower costs and a more focused approach.
