Glasgow media firm STV Group plc announced that its CEO Simon Pitts will leave the company on November 1, 2024.

STV had revealed in March that Pitts would step down to take up a new appointment beginning in the first quarter of 2025.

“Until his departure Simon continues to be focused on the delivery of the company’s strategy and targets and on ensuring the effective transition of his responsibilities,” said STV.

“The process to appoint a successor is underway and a further update will be issued in due course.”

Pitts will become the next group chief executive of Global, the London-based media and entertainment group. Global’s portfolio includes radio brands Heart, Capital, LBC, Capital XTRA, Classic FM, Smooth, Radio X and Gold.

STV added that as planned, Ian Steele stepped down from its board as non-executive director and chair of the Audit & Risk Committee at the conclusion of the firm’s AGM on Wednesday, having served for more than eight years.

“Following on with immediate effect, Simon Miller, senior independent director, is appointed as chair of the Audit & Risk Committee on an interim basis pending the appointment of a successor to Ian Steele to be announced in due course and Naomi Climer, non-executive director and chair of the remuneration committee, is appointed to the nomination committee,” said STV.

Paul Reynolds, STV chairman, said: “I would like to thank Ian for his outstanding contribution as a member of the Board. Ian’s financial expertise, constructive challenge and unstinting support have been invaluable to STV over the past eight years.

“Following the announcement in March that Simon Pitts will step down to take up a new appointment, it is confirmed that Simon will leave on 1 November. Simon has been – and is – a first-class CEO.  

“He is the architect of the strategy that has re-shaped STV so profoundly and effectively over the last six years; but more than that he has shown the operational and leadership skills to make an ambitious strategy happen.

“He leaves with our gratitude and very best wishes for his new role. 

“The process to appoint a successor to the CEO is underway and an update will be confirmed in due course.”