In a move that will shock the city and the media industry alike, ITV
has announced Tony Ball is no longer in the running to be its next
chief executive, after a failing to reach agreement over terms and
conditions.
The eleventh hour collapse throws ITV into chaos and follows rumours of Ball demanding a £30m five-year package - some £10m more than the broadcaster was believed to be offering.
In an announcement to the city moments ago, the ITV Board confirmed it has "terminated its discussions with Tony
Ball" after an exhaustive process of negotiation and
discussion highlighted "a number of substantial differences, including
a failure to finally agree contractual arrangements, together with a
disagreement over the future chairmanship".
Today's news follows HMV chief, and one-time favourite for ITV's top job, Simon Fox ruling himself out of the running last month.
During the broadcaster's search for a new chief executive the role of former CEO and chairman Michael Grade has cast a long shadow over proceedings.
The
failure to secure Ball as its new CEO, and with the absence of anyone
else either internally or externally waiting in the wings, it now seems
likely a new chairman will be in place at ITV in time to recruit its next chief executive.
