MARKET REPORT: Investors switch off ITV's Crozier

[TrueBlueTerrier]

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Adam Crozier's appointment early this year as chief executive of Coronation Street broadcaster ITV on a stonking contract that could see him earn more than £14million over the next five years left investors underwhelmed.

They obviously remembered his dire performance when head of the Football Association and the Royal Mail. He has made enemies in-house after ordering 150 of his most senior staff to undergo ability and aptitude tests, but his big test as far as the City is concerned is just around the corner.

On August 3 he will provide an update on a strategic review of the business along with half-year figures. Crozier has to find new ways for ITV to make money beyond its freetoair advertising model and the jury is out as to whether he has the ability to do so. New chairman Archie Norman is there to help.

The shares retreated 2.1p or 3.9pc to 52.35p after US broking giant Bank of America/ Merrill Lynch took no chances and downgraded to underperform from neutral and cut its price target to 47p from 56p.

It expects evolution rather than revolution from Crozier & Co with the focus being on better execution of the existing model.

But it believes there is a strong case for a wholesale pay model which would allow ITV to tap into much larger and more stable revenue streams. It slashed its earnings per share forecasts by 16 per cent in 2011 and 22per cent in 2012 to reflect investment of £60m in programming, content and online.

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[carpbarbel]

hope he does well otherwise we may get him back god forbid

[DirtyHarry]

hope he does well otherwise we may get him back god forbid

Doesn't matter how bad a fist of it Crozier makes at ITV, he will still come out of it a good £14 million richer, and walk straight into yet another very high paid CEO position somewhere else.
Nobody, but nobody, rewards gross incompetence like Britain does, nobody.
And as long as the British people continues to do nothing to stop this blatantly disgraceful cronyism, criminals like Crozier will carry on reaping £millions, neither earning it, or deserving it.

Personally, I believe our country needs to purge herself of vermin like Crozier and his ilk.

[bexhil palace]

hope he does well otherwise we may get him back god forbid

Doesn't matter how bad a fist of it Crozier makes at ITV, he will still come out of it a good £14 million richer, and walk straight into yet another very high paid CEO position somewhere else.
Nobody, but nobody, rewards gross incompetence like Britain does, nobody.
And as long as the British people continues to do nothing to stop this blatantly disgraceful cronyism, criminals like Crozier will carry on reaping £millions, neither earning it, or deserving it.

Personally, I believe our country needs to purge herself of vermin like Crozier and his ilk.

If you start the revolution brother i'm right behind you.
F..k Em.

[westlondonpostie]

They obviously remembered his dire performance when head of the Football Association and the Royal Mail. He has made enemies in-house after ordering 150 of his most senior staff to undergo ability and aptitude tests, but his big test as far as the City is concerned is just around the corner.

Would have been better if they made ole Adam take the those tests before giving him the job!!!

[andy2007]

He'd just find a way to cheat!

[westlondonpostie]

He'd just find a way to cheat!

It wouldn't be the fisrt time he did f**k all and got other people to do all the work.

[andy2007]

Precisely!