David Abraham is slated to step down from his post as chief executive of UK pubcaster Channel 4 by the end of 2017, following a seven-year tenure.
Abraham, who has headed the broadcaster since 2010 following a stint as CEO of UKTV, is departing in order to develop personal plans to launch a media enterprise in 2018, according to C4.
Under Abraham’s leadership, Channel 4 has delivered record revenues, record-program investment, award-winning creative renewal and industry leading digital innovation.
Abraham will remain in the post until a new chief executive has been appointed and is in position.
“I had three priorities when I joined Channel 4 in 2010: to build an independently sustainable business while still delivering strongly to our public remit; to assemble a team capable of delivering creative renewal post Big Brother; and to become world leaders in digital and data innovation,” said Abraham in a statement. “After several successive years of positive momentum and with revenues now of c£1bn, investment in content of £700m and sustained creative performance, I have decided that 2017 is the right year for me to hand over this important public job to my successor.
Abraham continued: “I now look forward to working with the Channel 4 board to support and hand over to my successor and then begin the next phase of my life – back in the private sector where I hope to build an organization that makes use of all that I learned from leading different kinds of innovative creative businesses.”
“He leaves the organization in excellent creative and financial health and with a strong and highly experienced team in place. We wish him well in his future new enterprise,” added Channel 4 chair Charles Gurassa. “My colleagues on the board and I will be undertaking a comprehensive recruitment process over the next months to ensure that Channel 4 continues to have outstanding leadership into the future.”