Charles Allen, chief executive of ITV is stepping down after two and a half years at the helm. Allen has been at Granada and lately ITV plc for 15 years - ten of which were as chairman or chief executive. He was a key player in the merger of Granada and Carlton to create a single ITV plc in early 2004.

In a statement, ITV said Charles Allen would remain at the company while head-hunters carried out the process of finding a replacement. Finance director John Cresswell has been appointed interim chief executive from October 1 and will work alongside Mr Allen to ensure an "orderly transition". Cresswell has said he is not interested in the top job on a permanent basis.

Allen said: "My focus now is to support John and the board through the transition process, following which I will move forward to the next chapter of my life and a new set of challenges."

 WHY DID HE GO?

See Steve Hewlett's analysis on the Allen years in The Guardian

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