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| Version 16 | Version 17 |
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| Grade quits BBC post to join ITV | Grade quits BBC post to join ITV |
| (19 minutes later) | |
| Michael Grade has resigned as BBC chairman and is to join ITV, the corporation's main terrestrial rival. | Michael Grade has resigned as BBC chairman and is to join ITV, the corporation's main terrestrial rival. |
| ITV, which has been struggling with falling advertising and ratings, said the appointment was a "real coup". | ITV, which has been struggling with falling advertising and ratings, said the appointment was a "real coup". |
| Mr Grade said his first priority would be to improve programming at ITV, which he will join early next year. | Mr Grade said his first priority would be to improve programming at ITV, which he will join early next year. |
| Analysts say it is a major blow to the BBC, where Mr Grade was steering it through complex licence fee negotiations with the government. | Analysts say it is a major blow to the BBC, where Mr Grade was steering it through complex licence fee negotiations with the government. |
| The BBC said it was "disappointed" by Mr Grade's decision to leave but added that he had been an "inspirational leader". | The BBC said it was "disappointed" by Mr Grade's decision to leave but added that he had been an "inspirational leader". |
| 'Tough decision' | 'Tough decision' |
| Mr Grade had been due to head the independent BBC Trust that was to replace the Board of Governors from January and oversee the BBC. | Mr Grade had been due to head the independent BBC Trust that was to replace the Board of Governors from January and oversee the BBC. |
| Current BBC vice-chairman Anthony Salz will succeed Mr Grade until the end of the year, while Chitra Bharucha, vice-chairman of the new BBC Trust, will take up the position on a temporary basis until a new chairman is appointed. | Current BBC vice-chairman Anthony Salz will succeed Mr Grade until the end of the year, while Chitra Bharucha, vice-chairman of the new BBC Trust, will take up the position on a temporary basis until a new chairman is appointed. |
| ITV has been looking for a new boss since Charles Allen left in August. | ITV has been looking for a new boss since Charles Allen left in August. |
| Its shares rose more than 1% in early trading after news of Mr Grade's appointment was announced. | Its shares rose more than 1% in early trading after news of Mr Grade's appointment was announced. |
| It was an opportunity I could not resist Michael Grade Check ITV's shares The future for Grade, BBC, ITV | It was an opportunity I could not resist Michael Grade Check ITV's shares The future for Grade, BBC, ITV |
| Mr Grade will run the company as executive chairman, and is expected to hold the post for up to three years. | |
| Acting chief executive John Cresswell will work with him as chief operating officer, while chairman Sir Peter Burt will step down in March. | Acting chief executive John Cresswell will work with him as chief operating officer, while chairman Sir Peter Burt will step down in March. |
| Mr Grade said it was a "great privilege" to take on the role. | Mr Grade said it was a "great privilege" to take on the role. |
| "It has been a tough career decision to leave the BBC but it was an opportunity I could not resist, given my family's history in the founding of ITV and my background at London Weekend Television," he said. | "It has been a tough career decision to leave the BBC but it was an opportunity I could not resist, given my family's history in the founding of ITV and my background at London Weekend Television," he said. |
| He said his first priority would be speed up improvements to ITV's programming schedule. | He said his first priority would be speed up improvements to ITV's programming schedule. |
| "I think they need a bit of creative leadership," he said. "That is what is missing here." | "I think they need a bit of creative leadership," he said. "That is what is missing here." |
| He also refuted claims that he had been lured to ITV primarily by the promise of a massive salary increase. | He also refuted claims that he had been lured to ITV primarily by the promise of a massive salary increase. |
| Commentators have suggested that a pay packet likely to exceed £1m a year - as well as a sizeable slice of shares - would have been a factor. | Commentators have suggested that a pay packet likely to exceed £1m a year - as well as a sizeable slice of shares - would have been a factor. |
| "You never do a job for the money," he said. "You do it because you want to do it and think you can do it." | "You never do a job for the money," he said. "You do it because you want to do it and think you can do it." |
| "Real coup" | "Real coup" |
| Analysts said that Mr Grade was a charismatic figure who could restore confidence in ITV and help the company attract advertisers. | Analysts said that Mr Grade was a charismatic figure who could restore confidence in ITV and help the company attract advertisers. |
| They added that Mr Grade was one of the few figures in the media industry with the experience and skills to take the helm at ITV. | They added that Mr Grade was one of the few figures in the media industry with the experience and skills to take the helm at ITV. |
| "For the first time in ages, ITV executives can afford a smile," said Robert Peston, the BBC's business editor. "They've got a new boss who has television in his blood." | "For the first time in ages, ITV executives can afford a smile," said Robert Peston, the BBC's business editor. "They've got a new boss who has television in his blood." |
| The Board is disappointed he is moving to ITV but he leaves behind a BBC that is passionate about and committed to serving the public in new and exciting ways Anthony Salz, acting BBC chairman | The Board is disappointed he is moving to ITV but he leaves behind a BBC that is passionate about and committed to serving the public in new and exciting ways Anthony Salz, acting BBC chairman |
| Question marks have hung over ITV's future in the face of rising competition from digital TV firms, low viewing figures and falling advertising revenues. | Question marks have hung over ITV's future in the face of rising competition from digital TV firms, low viewing figures and falling advertising revenues. |
| Many analysts had predicted that ITV would become a takeover target, and satellite broadcaster BSkyB has bought a 17.9% stake in the firm for £940m. | Many analysts had predicted that ITV would become a takeover target, and satellite broadcaster BSkyB has bought a 17.9% stake in the firm for £940m. |
| ITV had previously rejected a £4.7bn-takeover offer from cable operator NTL. | ITV had previously rejected a £4.7bn-takeover offer from cable operator NTL. |
| ITV said Mr Grade's appointment was a "real coup" for the firm and he would bring "unrivalled broadcasting experience" to the business. | ITV said Mr Grade's appointment was a "real coup" for the firm and he would bring "unrivalled broadcasting experience" to the business. |
| Left behind | Left behind |
| Mr Grade's departure is problematic for the BBC, which will have its third new chairman in seven years. | Mr Grade's departure is problematic for the BBC, which will have its third new chairman in seven years. |
| He was heavily involved in negotiating an increase in the BBC licence fee, pushing hard to win a rise of 2.3% above the rate of inflation. | He was heavily involved in negotiating an increase in the BBC licence fee, pushing hard to win a rise of 2.3% above the rate of inflation. |
| Mr Grade's move leaves questions for BBC boss Mark Thompson | Mr Grade's move leaves questions for BBC boss Mark Thompson |
| While he has found a sympathetic ear in Culture Secretary Tessa Jowell, he was facing stiff opposition from Prime Minister Tony Blair and Chancellor of the Exchequer Gordon Brown. | While he has found a sympathetic ear in Culture Secretary Tessa Jowell, he was facing stiff opposition from Prime Minister Tony Blair and Chancellor of the Exchequer Gordon Brown. |
| Ms Jowell said there was "no reason" why Mr Grade's departure should delay a final licence fee settlement. | Ms Jowell said there was "no reason" why Mr Grade's departure should delay a final licence fee settlement. |
| The BBC said that along with director general Mark Thompson, Mr Grade had achieved a successful charter settlement, while the future system of governance he helped secure would strengthen the BBC's accountability. | The BBC said that along with director general Mark Thompson, Mr Grade had achieved a successful charter settlement, while the future system of governance he helped secure would strengthen the BBC's accountability. |
| "The Board is disappointed he is moving to ITV but he leaves behind a BBC that is passionate about and committed to serving the public in new and exciting ways," said Mr Salz. | "The Board is disappointed he is moving to ITV but he leaves behind a BBC that is passionate about and committed to serving the public in new and exciting ways," said Mr Salz. |
| What impact will Michael Grade's move have? You can send us your comments using the link below. | What impact will Michael Grade's move have? You can send us your comments using the link below. |
| Click here to send us your comments | Click here to send us your comments |