ITV search nears an end
ITV HAS narrowed its search for a new chairman to three candidates, giving hope that the calamitous hunt to replace Michael Grade could be nearing an end.
A source close to the commercial broadcaster said yesterday that three candidates remain in the race, though they were unable to confirm the identities of the individuals.
Betting website PaddyPower.com has got broadcasting veteran Sir Christopher Bland as its favourite, with odds of 6/4, closely followed by GlaxoSmithKline chairman Sir Christopher Gent at 7/4. But last night City financier Bob Wigley – a former Merrill Lynch banker who now chairs Yell – emerged as a leading contender. Bland has more media experience – including his chairmanship of the BBC board of governors and of LWT – but, at 71, may be too old for the post. Gent may not be media royalty, but analysts suggest his past ability to placate investors and a disparate board will be more effective in pulling ITV out of the doldrums.
Also tipped for the role are former Channel 4 and Equitable Life chairman Vanni Treves (4/1), British Airways chairman Martin Broughton (8/1), and Channel Five chief executive Dawn Airey (12/1). Last month, former Reed Elsevier boss Sir Crispin Davis and BMI-founder Sir Michael Bishop ruled themselves out of the running for a role which is increasingly being called a “poisoned chalice”.
The new chairman’s first priority will be to resume the search for a CEO?to revive ITV’s fortunes. Filling the post of CEO has also been fraught with difficulties, with frontrunner Tony Ball walking away from talks after failing to agree a five-year pay package thought to be worth £25m.