Glasgow media firm STV Group plc said on Wednesday chairman Paul Reynolds has stepped down as planned and has been succeeded by corporate veteran Clive Whiley.

On September 25, STV revealed a first half loss before tax of £200,000 for the six months to June 30, 2025, compared to a profit of £4.8 million for the same period of the prior year, and started a “comprehensive cost savings programme.”

STV also announced plans on September 25 to replace its central belt and north of Scotland news with a single programme presented from Glasgow.

The firm said on Wednesday: “Following the announcement on 25 September 2025 regarding Paul Reynolds’s intention to step down as a Non-Executive Director and Chairman of the Company by the end of 2025, it is confirmed that he has stepped down from the Board of the Company with effect from 18 November 2025.

“Clive Whiley, Independent Non-Executive Director and Chairman Elect of the Company, has immediately succeeded Paul Reynolds as Chairman of the Company.

“Clive Whiley has also been appointed on 18 November 2025 as Chair of the Nomination Committee and a member of the ESG Committee.”

STV shares are down almost 50% in 2025, reducing the firm’s stock market value to roughly £52 million.

STV Group CEO Rufus Radcliffe said: “I would like to thank Paul for his stewardship throughout his tenure as Chair and for his support and wise counsel to me over the past year.

“On behalf of the Board, I wish him continued success in his future endeavours. We are delighted to confirm the appointment of Clive Whiley as Chair and, following a smooth transition into this role, look forward to working with him as we strive to deliver the strategy announced earlier this year.”

On September 25, STV said of Whiley: “Clive Whiley was previously non-executive Chairman of De La Rue plc and brings with him over forty years’ experience in executive and non-executive director roles across a wide range of industries and geographies in both regulated and listed companies since becoming a Member of the London Stock Exchange in 1983.

“Clive is also non-executive Chairman of Mothercare plc and  Senior Independent Director of Griffin Mining Limited. Clive has been appointed as a non-executive director of Mpac Group plc with effect from 1 October 2025.

“He was previously Chairman of Dignity plc, Senior Independent Director of Sportech plc and a non-executive director of Grand Harbour Marina plc, Camper & Nicholsons Marina Investments Limited and Stanley Gibbons Group plc.”