Asda chief executive Archie Norman has been named chairman of ITV he was also the former Conservative MP. Norman, 55, who cemented his reputation by transforming Asda in the 1990s, said that the ITV job was one of the few that would tempt him back into corporate life.
He said: "It is an irresistible challenge, a great brand, a people business with enormous talent, but facing an imperative for change: the challenge of adapting to compete in a fragmented digital media world."
Norman, who will take up the post in January, added that Grade had helped to bring ITV through "the worst advertising recession for decades".
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