Changes at the top for STV

The parent company of the two Channel 3 (ITV in England and Wales) Scotland franchises, STV Group plc, have announced forthcoming changes to its board.

Richard Findlay has expressed his intention to retire from his position as Chairman following a six year tenure and will do so on the 31st of August this year. It is also announced that Margaret Ford, the Baroness Ford of Cunninghame, will join the board from the 1st of June 2013 as non-Executive Director and will succeed Richard as non-Executive Chair following his retirement. She will lead the board in overseeing the delivery of the next phase of the Group’s growth strategy.

Commenting on the board changes, Rob Woodward, Chief Executive Officer, said: “On behalf of the board, employees and shareholders I would like to thank Richard for his exemplary leadership, insight and wise counsel. Under his stewardship, the future prospects of the company have been transformed as he has steered the business through challenging times and successfully overseen the implementation of a growth strategy designed to deliver shareholder value. I am looking forward to working with Baroness Ford in delivering the next stage of STV’s growth strategy.”

Richard Findlay was appointed to the board by shareholders in February 2007 to oversee the turnaround of the company. Since his appointment, he has presided over the successful transformation of the business STV note and add that he has re-established the viability and reputation of the Group as a digital leader and provider of high quality public service content.

“Significant progress has been made in transforming STV into a profitable growth company with a strong balance sheet and a clear strategy to create value. I should like to thank the board and shareholders for their support during my tenure as Chairman. The focus is now on execution of the growth strategy and I am confident that, led by Margaret Ford, the strong board and capable and motivated management and staff team at STV will continue to fulfil the exciting potential of the company.” Richard Findlay said yesterday.

Margaret Ford has over 20 years experience as a non-Executive Director and Chairman of private and listed companies and extensive experience of working with Government. She is currently Chairman of AIM-listed May Gurney Integrated Services plc, Chairman of Barchester Healthcare Limited, the private healthcare provider, and is a non-Executive director of Taylor Wimpey plc, Segro plc and Grainger plc. From 2009 to 2012, she was a member of the Olympic Board and Chairman of the Olympic Park Legacy Company. She was appointed to the House of Lords in 2006 and sits as an Independent Peer.

Baroness Ford adds, “I am delighted to be succeeding Richard Findlay, for whom I have the highest regard, as Chairman of STV. I am conscious of what an excellent job the board has done since 2007 and look forward immensely to working with Rob Woodward and the board in taking the company to the next phase of its development.”

STV comprises of three key elements; STV North and STV Central – the independent Channel 3 stations for Scotland – and STV Productions which provide content to both stations as well as the main ITV national service and other broadcasters including the BBC. STV Central and STV Productions launched in 1957 as Scottish Television. STV North launched in 1961 as Grampian Television, it was re-branded in 2006.