Adam Crozier receives National Award for turnaround success

ITV’s Chief Executive Adam Crozier, was recognised at The Institute for Turnaround’s (IFT) Annual Awards on Wednesday night for his work so far in transforming ITV in addition to his outstanding contribution at several of the UK’s most well-known companies, including Royal Mail, Saatchi & Saatchi and The Football Association. He was given the Chairman’s Special Award for his track record in leading businesses out of severe financial and operational difficulty.

In April 2010 he joined ITV as Chief Executive, launching a five year plan to transform the company into one that can produce world class content, exploit it across a range of broadcast and other platforms, and  sell it world-wide. Over the last year and a half he has made clear progress in revitalizing the company, with ITV Studios’ performance exceeding  expectations both in the UK and internationally while the Group as a whole is on track to be net cash positive at the end of this year, compared to a debt of £612m at the start of 2010.

He was Chief Executive of Royal Mail Group from 2003 to 2010. During that time he led Royal Mail’s turnaround from an organisation failing customer service targets and losing more than £1m every working day to a company making £1m every working day and delivering on its Quality of Service Targets. He drove forward Royal Mail’s plan to invest around £2bn in modernising and automating the business to enable it to compete in the UK and internationally.

Adam Crozier, Chief Executive of ITV said:

“It’s a real honour to receive this award. We are still in the early stages of our plan to transform ITV, but our progress to date is testament to the dedication, commitment and hard work of the whole team. Our relentless focus on delivering the Transformation Plan is now impacting positively on our results and although there is work to be done, we are optimistic about ITV’s future prospects.”

Iain MacRitchie, Chairman of IFT said,

“Adam Crozier has worked in a number of challenging situations but is a shining example of the message the Institute For Turnaround continues to promote – that with the right leadership vision, a clear plan and fast action, a business can journey from crisis to turnaround to transformation”.

The 2011 Awards’ are judged by an independent panel including London Business School, the Confederation of British Industry, Global Turnaround Publishing and a number of senior accredited Turnaround professionals with expertise across all categories. Widely regarded as Europe’s top turnaround awards, the event on 30^th November 2011 was hosted by broadcaster Jeremy Vine in London.

Notes to Editors:

About IFT

The Institute for Turnaround is the leading professional body in Britain and Europe for operational, funding and advisory practitioners in business. It is an independent professional body established in 2000, supported and encouraged by government, the clearing banks and other financiers’ private equity investors and leading accountancy firms.

It is a nonprofit making company limited by guarantee. It was established in late autumn 2000, supported and encouraged by government, the clearing banks and other financiers, private equity investors and leading accountancy firms.

For more information please visit:

http://www.instituteforturnaround.com/default.asp