The chief executive of broadcaster STV has announced he is standing down the day after the group launched its new channel, STV2.
The Glasgow-based firm said it has started the search for a successor to Rob Woodward, who has been at the helm since 2007 and will leave within 12 months “to pursue fresh challenges”.
“I am passionate about STV and its prospects to continue to deliver sustainable profitable growth for our shareholders,” Woodward said.
“The company has an outstanding management team and committed and energised staff that will continue to build on the unique strategic strengths of the business.”
His departure was announced the day after the launch of STV2, which will broadcast for 24 hours a day, seven days a week.
It also came as the group, which holds its annual general meeting today, said trading during the first quarter of its financial year was in line with its expectations.
“The outlook to end of May continues to be in line with forecasts with STV national airtime revenues expected to be down 8 per cent,” STV said.
“Regional airtime revenues are expected to be up 5 per cent in the five months to end of May. Digital revenues continue to perform strongly, up 11 per cent in Q1 with video on demand up 23 per cent, and are expected to continue to deliver a strong growth trajectory in Q2.”
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STV chair Margaret Ford said the broadcaster’s board was “indebted to Rob for his exceptional contribution to the turnaround of the group and his commitment and passion in driving positive growth over the past ten years”.
She added: “He has built a strong legacy. With a first class leadership team and staff and highly engaged board in place the company is well positioned to realise its future growth potential and continue to deliver to shareholders.”