INCOMING ITV chief executive Adam Crozier used his first results briefing to lay bare the failings of the previous administration.
He slammed the old board, which presided over the biggest ever decline in the firm’s share price, claiming it had failed to tackle the fundamental issues facing the broadcaster. He said the firm is “over-reliant on one stagnating form of income”, core TV advertising, and is in desperate need of branching out.
He said there has been “poor execution and decision-making” and a lack of quality exportable content. He also said ITV is lagging behind its rivals in technology and punching below its weight in terms of its online following. It is roughly on a par with Channel 4 despite dwarfing its rival’s TV audience share.
He welcomed the raft of changes to the board, including Kevin Lygo, former director of television at Channel 4, as head of studios and Peter Fincham as head of broadcast.
Chairman Archie Norman praised Crozier’s arrival, saying more had been achieved in three months than in the previous three years.