Roger
Flynn announces intention to leave the Βι¶ΉΤΌΕΔ
Roger
Flynn, Chief Executive, Βι¶ΉΤΌΕΔ Ventures Group, and a member of the
Βι¶ΉΤΌΕΔ's Executive Committee, has announced today his intention to
leave the Βι¶ΉΤΌΕΔ in Spring 2004.
This
follows his strategic review which concluded that significant savings
of between Β£20-Β£30 million per annum can be obtained
for the Corporation through the outsourcing of its technology service
provision.
A further
significant capital sum is expected to be achieved through the sale
of Βι¶ΉΤΌΕΔ Technology Ltd, which was also announced
today.
He
joined the Βι¶ΉΤΌΕΔ in 2001 to refocus the Corporation's substantial
range of media service operations under a new commercial division,
Βι¶ΉΤΌΕΔ Ventures Group.
The
Group comprises Βι¶ΉΤΌΕΔ Technology, Βι¶ΉΤΌΕΔ Broadcast, Βι¶ΉΤΌΕΔ Resources and
Βι¶ΉΤΌΕΔ Vecta.
Under
his leadership, the businesses have been incorporated and restructured
to increase customer focus, improve efficiencies and target third
party commercial clients.
As
a business the Ventures Group last year delivered Β£23 million
in savings to the Βι¶ΉΤΌΕΔ, a Β£25 million turnaround to profits
of Β£14.5 million and a 50% growth in third party revenues.
Βι¶ΉΤΌΕΔ
Director-General Greg Dyke said today: "Roger has achieved
a remarkable turnaround and created real value in the Ventures businesses.
"I
want to thank him for his total commitment.
"He
has been instrumental in the decision to sell Βι¶ΉΤΌΕΔ Technology. The
sale will be the culmination of the final phase of his business
plan and a natural point for him to move to bigger challenges."
Roger
Flynn said: "I have really enjoyed my time with the Βι¶ΉΤΌΕΔ and
I am pleased with the turnaround of Βι¶ΉΤΌΕΔ Ventures Group.
"All
the businesses are now profitable and in a strong position to evolve
further.
"By
next Spring, the plan I put in place will be completed and the Group
ready to move to the next phase of its development.
"It
is therefore a natural moment for me to seek a new commercial challenge
and I am satisfied that I will be leaving Βι¶ΉΤΌΕΔ Ventures in good shape,
with a strong management team and prospects in place."
Notes
to Editors
Βι¶ΉΤΌΕΔ
to sell Technology subsidiary
About
Βι¶ΉΤΌΕΔ Ventures
Βι¶ΉΤΌΕΔ
Ventures Group, the Βι¶ΉΤΌΕΔ's business to business commercial division,
comprises four operating businesses: Βι¶ΉΤΌΕΔ Technology, Βι¶ΉΤΌΕΔ Broadcast,
Βι¶ΉΤΌΕΔ Resources and Βι¶ΉΤΌΕΔ Vecta.
The
group provides a full range of managed media services and facilities
to the Βι¶ΉΤΌΕΔ and other media companies both in the UK and internationally.
It
has been tasked with maximising commercial return back to the Βι¶ΉΤΌΕΔ
for the benefit of programme making and other Βι¶ΉΤΌΕΔ services.
In
2002/03 Ventures turned a Β£10.5 million loss into a Β£14.5
million profit, on turnover of Β£440 million and almost 4,000
staff.
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