STV Group plc
5 March 2024
LEI: 21380075GOOTTBDNDJ58
Directorate Change
Simon Pitts, Chief Executive Officer, to step down over next
12 months
STV Group plc ("STV" or the "Company") today
announces that Simon Pitts has informed the Board of his decision
to step down from his role as Chief Executive Officer over the next
twelve months to take up a new appointment beginning in Q1
2025.
Until his departure Simon will remain focused
on the delivery of the Company's strategy and targets and on
ensuring the effective transition of his
responsibilities.
The Board has commenced a process to appoint a
successor and a further update will be issued in due
course.
This announcement is made pursuant to Listing
Rule 9.6.11.
Paul Reynolds,
Chairman, said:
"Simon has
been an outstanding leader of STV over the past six years. As
the architect of our diversification strategy, he has successfully
led the transformation of STV from a linear broadcaster into a
resilient content creation and digital streaming business with an
exciting future.
"On behalf of
the Board, I would like to thank Simon for his significant
achievements to date and his ongoing commitment to implement the
next phase of our growth strategy until he steps down over the next
twelve months."
Simon Pitts
said:
"It has been a huge privilege to lead STV. Since 2018 we have
become the most-watched peaktime TV channel in Scotland and
retained that position for 5 years in a row, transformed STV Player
into a high-growth streaming service, and created one of the UK's
leading TV production groups, and we have today set out further
ambitious growth plans for the future.
With STV's latest diversification targets fully achieved, now
is the right time to plan a smooth and orderly succession. Our
leadership team is very strong, our strategy is clear and it's
delivering. Our STV colleagues are doing a fantastic job producing
world class programmes, news and digital & commercial products
every day of the year, staying ahead of the competition and
creating strong foundations for the future.
I'd like to express my sincere thanks to Paul, former chair
Margaret Ford and the rest of the Board, as well as all my STV
colleagues for their unstinting support, drive and creativity over
6 extremely enjoyable years."
-ends-
Enquiries:
STV Group
plc: Kirstin
Stevenson, Head of Communications
Tel: 07803 970 106
Camarco:
Geoffrey Pelham-Lane,
Partner
Tel: 07733 124 226
Ben Woodford, Partner
Tel: 07790 653 341