🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

ITV board needs new election, says Pirc -paper

Published 10/05/2009, 06:39 PM
Updated 10/05/2009, 06:42 PM
BSBAy
-
ITV
-

LONDON, Oct 5 (Reuters) The board of British broadcaster ITV should put itself up for re-election because of a lack of agreement over who should lead the company, The Daily Telegraph reported corporate governance body Pirc as saying.

"Given that there is unease here, what would be the right thing is the whole board offering themselves up for re-election at next year's AGM. This is increasingly common when you have had a bruising encounter with shareholders," the Telegraph quoted a Pirc spokesman as saying.

Britain's biggest commercial free-to-air broadcaster is searching for both a chairman and chief executive, after talks with former BSkyB boss Tony Ball over the CEO role broke down and the company said chairman Michael Grade would leave once a replacement was appointed. [ID:nLP493693]

ITV could not be immediately reached for comment on Monday.

But the Sunday Telegraph reported last month that ITV is facing opposition from leading shareholders over the appointment of Sir Crispin Davis as chairman, citing his time in charge at media group Reed-Elsevier as a major stumbling block.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.