ITV chief steps down

ITV chief executive Adam Crozier is stepping down after seven years, as the UK broadcaster shakes up its executive ranks amid a Brexit-derived advertising slowdown.

The company, about 9.9% owned by billionaire John Malone’s Liberty Global, is a perennial subject of takeover speculation, talk that has intensified since the Brexit vote last June. Liberty Global owns TV3 and Virgin Media.

Mr Crozier will leave at the end of June and a successor will be announced “in due course”, ITV said in a statement. Finance director Ian Griffiths will take on the added role of chief operating officer, and chairman Peter Bazalgette will be executive chairman during the search.