August 10, 2009

Man withdraws from ITV CEO contention

The leading candidate to become the chief executive officer for Britain's ITV said he pulled himself out of contention.

Simon Fox, who heads the British music and DVD retailer HMV, told his board he intends to stay with the company to complete a three-year restructuring plan, Variety reported Monday.

ITV, public service network of British commercial television broadcasters, had been expected to name its new CEO last week as it publishes financial results, projecting a net loss of $117 million for the first six months of 2009, the industry trade publication said.

The candidates reported still in contention include Pascal Cagni, Apple's head in Europe; Tony Ball, chairman of Kabel Deutschland; and John Cresswell, the former CEO of local satellite giant BSkyB and ITV's chief operating officer.

The vacancy was created by Michael Grade's decision to give up his chief executive responsibilities. He said, however, he would remain with ITV as non-executive chairman.