Charles Allen Leaves ITV

ITV has confirmed that Charles Allen has resigned as chief executive and will be replaced by the company’s finance director John Cresswell.

Interim chief executive Cresswell will work with Allen during a handover period to ensure a smooth transition and will take the reigns on October 1. ITV says that the search for a permanent successor is starting immediately and headhunters are being appointed.

Allen had been under pressure following poor viewing figures over the summer and a decline in advertising revenue which the broadcaster was keen to halt (see Charles Allen Prepares To Step Down).

Allen has been at Granada plc and then ITV plc for 15 years, 10 of which as chairman or chief executive.

Sir Peter Burt, chairman, said: “The board of ITV plc owes its thanks to Charles for his success in creating a single ITV company from the federal structure that he inherited and for preparing the company for television in the digital age. Charles has done an excellent job over the past two years in integrating the business after the merger, in reducing costs and in reducing the burden of regulation on ITV and at the same time developing ITV’s successful family of digital channels.

“I have enjoyed working with Charles over the past two and a half years and we all wish him the best in the future. We shall watch with great interest his future contribution to UK plc.”

Charles Allen, chief executive, said: “I have enjoyed enormously my 15 years with Granada and ITV and especially in creating a single ITV Company and shaping the nation’s number one commercial broadcaster as a major player in the digital age. Over that time I have worked with the most talented and creative people in the industry and am pleased that so many of them are now in the strong management team that is implementing our strategy to develop ITV’s businesses for the future.”

ITV: 020 7843 8000 www.itv.com