ITV CEO Adam Crozier is "stepping down after seven years at the helm" of the U.K.'s "biggest free-to-air commercial broadcaster," according to Sweney & Kollewe of the London GUARDIAN. Crozier, who led a "turnaround" at ITV after the recession and "successfully reduced the broadcaster's reliance on advertising revenue by building up its production arm," will leave at the end of June to pursue a "portfolio of roles at private and publicly listed companies." The company's finance director, Ian Griffiths, will step up to a new combined role of COO and finance chief and "run the company for an interim period," while Chair Peter Bazalgette will become exec chair during that time. Crozier, a former CEO at the FA and Royal Mail, has spent the seven years since the recession "attempting to diversify ITV away from its overdependence on TV ad revenues" by building digital income and investing more than £1B in building its production business. Analysts at Liberum said that his departure may "heighten speculation" of a bid by Virgin Media owner Liberty Global, which owns 9.9% of ITV, or a joint takeover with Discovery (GUARDIAN, 5/3). In London, David Bond reported rumors of Crozier's departure "continued to swirl" around the U.K. media industry although he denied them as late as last week. Crozier’s move means that two of the U.K.'s biggest broadcasters are "seeking new leaders at the same time:" Channel Four is also hunting a new CEO after the announcement in March that David Abraham is to leave the TV company (FINANCIAL TIMES, 5/3).