Double blow to ITV chairman hunt

The broadcaster needs a new chairman and chief executive

Two potential candidates to replace Michael Grade as ITV's chairman have ruled themselves out of the running.

ITV said Sir Crispin Davis, former head of publishing group Reed Elsevier, and ex-BMI British Midland chairman Sir Michael Bishop, had both pulled out.

The broadcaster also said its chief operating officer John Cresswell would become its interim chief executive.

However, Mr Cresswell has told ITV he plans to leave the firm when a new full-time chief executive is found.

Last month, ITV's talks with Tony Ball, the former boss of Sky, about becoming chief executive broke down.

The talks collapsed over the proposed candidates to replace Michael Grade as chairman.

Search

ITV has been looking for a new chief executive since since April when Mr Grade, then executive chairman, said he would step back from the executive role.

The company said in September that it had been agreed with Mr Grade that he would also stand down from the post of chairman.

At the time it said that the search for a new chairman was "well advanced".

Following the withdrawals of Sir Crispin Davis and Sir Michael Bishop from the running, ITV said it had "revised its shortlist accordingly and is continuing its search with all due speed".

The new chairman will be responsible for overseeing the process of finding a chief executive.

Mr Cresswell will take up his role of interim chief executive when the new chairman arrives.