Global Media Group has appointed Simon Pitts, former STV boss, as its new chief, effective from the first quarter of 2025.
Pitts will succeed Stephen Miron, who announced last week that he would step down after serving as chief executive for 16 years. Miron will transition to the role of chairman of the media and entertainment company in 2025.
Lord Charles Allen, Global’s current chairman of 17 years, will assume the position of senior non-executive director.
Media veteran Pitts spent 17 years at ITV, including seven years on the executive board, before becoming chief of the Scottish broadcaster in 2018.
“At STV [Pitts] has led a hugely successful transformation,” said Ashley Tabor-King CBE, founder and executive president of Global, “diversifying revenues and business operations to now include a high-growth streaming service and leading studios group alongside a traditional linear broadcast business, all of which is testament to his leadership skills,” he added.
In its latest financial update, STV reported a 22 per cent increase in revenue to £168.4m from the previous year’s £137.8m. However, like many broadcasters, it has faced challenges due to a weak advertising market.
Pitts said: “I’m delighted to be joining Global, a company I admire and whose brands I’ve been a fan of for a long time. It is unique in the market to have such a diversified portfolio, with digital, audio and outdoor combined with some of the best-loved radio stations in the UK, bringing with it an incredible connection to its audiences.
“It’s also an amazing opportunity to work in a founder-led business that is creative, innovative, and still thinks of itself as a challenger despite its commercial success,” he added.
Global’s portfolio includes radio brands such as Heart, Capital, LBC, Smooth, Radio X and Classic FM. The firm reported an operating profit of £75.4m on revenues of £806m in its most recent annual report. In the last quarter of 2023, Global’s brands reached 26.6m listeners.
Outgoing chief Miron said: “After 16 years as Group CEO at Global it’s time to hand over the baton to someone who can help take the company to the next level.
“I can’t think of anyone better or more suited for this role than Simon. I have every confidence that he will be an exceptional leader and I’m really looking forward to working with Simon in my new role as Chairman as we look towards the next phase of Global’s growth.”