All3Media sets hunt for new chief in motion
PRIVATE equity firm Permira is on the lookout for a new chief executive for All3Media, in which it owns a majority stake, as current head Steve Morrison, 64, prepares to step down.
A headhunter has been brought in as it is thought likely that the new chief executive will be an external candidate.
All3Media, the British television production company behind Peep Show, The Only Way Is Essex and Midsomer Murders, made record profits in 2011.
The UK’s biggest production company reported a 28 per cent revenue hike to £465m, alongside a 20 per cent jump in earnings before interest, taxes, depreciation and amortisation to £64m.
However, attempts to sell the company for £750m last year failed.
Steve Morrison, who has been with All3Media since its 2003 birth, will remain involved with the company in the new role of chairman.