Embattled ITV chief executive Charles Allen is to step down and will be replaced on an interim basis by finance director John Cresswell on October 1st.
Mr Allen, who last year earned £1.85 million, became chief executive two-and-half years ago after the merger of Carlton and Granada to form ITV, Britain's biggest commercial broadcaster.
But the executive has come under increasing pressure from shareholders who are angry about the group's performance and its dwindling advertising revenues and audience share compared to larger rivals.
A spokesman for ITV said the broadcaster was poised to engage a headhunter to begin the search for a permanent replacement.
Prior to being finance director, Mr Cresswell was chief operating officer of ITV during 2005 and before that he worked for Granada for five years.
