Carlton & Granada agree ITV PLC board

Following the announcement on Tuesday by the Secretary of State for Trade and Industry indicating that their proposed merger may proceed if the terms of remedies can be agreed with the Office of Fair Trading, Granada and Carlton have agreed the composition of the Board and management structure of the combined group (ITV plc).
On completion of the merger, Michael Green will be Chairman, Charles Allen will be Chief Executive and Henry Staunton will be Finance Director of ITV plc.
Non-executive directors will be David Chance, James Crosby, John McGrath, Sir Brian Pitman, Sir George Russell and Etienne de Villiers. David Abdoo will be Company Secretary.
Furthermore the following divisional executives will report to the Chief Executive: Mick Desmond, Chief Executive, ITV Broadcasting and Enterprises; Clive Jones, Chief Executive ITV News Group; Graham Parrott, Commercial Director; and Simon Shaps, Chief Executive, Granada Production.
With immediate effect, the six non-executive directors will work together as a steering committee to address a number of important matters, including compliance with the new Combined Code on Corporate Governance.
The two Senior Independent Directors (Sir Brian Pitman and Sir George Russell) are to consult with the major institutional shareholders.
Consistent with the desire to progress matters quickly, the Secretary of State for Trade and Industry requested that discussions with the OFT should be brought to a conclusion by November 7, Granada and Carlton have accelerated a timetable designed to bring the merger to completion.
The relevant documentation will be posted to shareholders in due course.
(SP)