Television production company Endemol said today its board had agreed to accept the resignation of chief executive Joaquim Agut.
Netherlands-based Endemol, behind such worldwide TV hits as Big Brother, said Agut was leaving for personal reasons and that it would seek to replace him without delay.
Endemol has traded publicly since November 2005 after its owner, Spain's Telefonica, sold 22.3 per cent of its shares.
Media have reported this month that investment banks are putting together a consortium to bid more than €5 billion for the controlling stake that Telefonica has in Endemol.
But Mr Agut told a shareholders' meeting in Amsterdam yesterday that Telefonica was in no hurry to sell its stake. He also said Endemol would not do anything to dilute its shares even as it actively seeks acquisition targets.
Endemol shares closed up 1.7 per cent at €13.78 yesterday. The shares are up more than 50 per cent since its November IPO, helped by takeover speculation and reports that Spanish media group Vocento, Sony Entertainment, Italy's Mediaset and Time Warner are potential suitors.