ITV has appointed former Asda chief executive Archie Norman to replace Michael Grade as chairman in January. Archie Norman is credited with turning around Asda in the 1990s, before its sale to US retailing giant Wal-Mart. He commented: "There are few opportunities that would have tempted me back into the public company arena, but ITV is definitely one of them.
"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." The former Conservative MP helped build up Kingfisher, which owns DIY chain B&Q, in the 1980s. .He was appointed Asda chief executive in 1991 and grew the business for eight years before its sale to Wal-Mart.