ITV’s veteran deputy chairman, Sir George Russell, will step down after six years since merging Carlton and Granada to create ITV.
Russell, 74, was a close ally of outgoing executive chairman, Michael Grade. Grade said he would leave in September after pay disagreements with ex-BSkyB chief executive, Tony Ball, who was at one point in the running for the CEO position at ITV.
Russell ’s year-end departure comes ahead of Archie Norman’s takeover as chairman in the New Year, as ITV faces its worst financial crisis in its 54-year history. “I had always made it clear that I wanted to see Michael Grade through his tenure and now that has come to an end it is the right time for me to step down from what has been a fascinating and fulfilling six years at ITV,” he said
Michael Grade said: “Sir George has made a huge contribution to ITV since its inception in 2004.
“He was instrumental in seeing the merger through, with the full support of shareholders, and since then has offered invaluable advice on any number of regulatory and broader industry issues.