ITV is already riding high in the stock markets, having advanced this week after a favourable UBS note and ongoing speculation it could be the target of a premium private equity bid.
But last night the broadcaster had another reason to celebrate, after chief executive Adam Crozier picked up the Institute for Turnaround’s (IFT) annual award for his work transforming the fortunes of some of the UK’s best-known companies.
Though he remains a few years shy of 50, Crozier’s track record already includes enough corporate restructuring to warrant the chairman’s special award, including overseeing the modernisation of Royal Mail during his time as chief exec from 2003 to 2010.
His five-year plan to transform ITV into a global player has only been running 18 months, but the eradication of debt at the company has already won the admiration of the IFT’s panel.
With Jeremy Vine from ITV rival the BBC on hand last night to deliver the award, at a Gala dinner in Bloomsbury, Crozier was in typically self-deprecating mode, maintaining that the transformation plans at ITV were still in the “early stages”, and any success so far was a “testament to the dedication, commitment and hard work of the whole team”.
ALSO out celebrating last night were guests at Macmillan’s Enchanted Ball, which included a celebrity auction hosted by Jeffrey Archer. Round two of the charity’s Christmas celebrations will take place on 7 December, when stars including Kevin Spacey and Frank Lampard will auction off their dream Christmas stockings.