News

Surprise Exit: TVC CEO Resignation Effective April 30

Published

10 months ago

Feb 29, 2024.

CEO Departure: TVC Communications’ CEO, Andrew Hanlon, to step down on April 30 after seven successful years.
Strategic Transformations: Hanlon’s tenure saw a remarkable 330% audience growth and restored profitability, with daily viewers and listeners exceeding 23 million by December 2023.
Succession Plan: Deputy CFO Victoria Ajayi appointed as the new CEO effective May 1st, following Hanlon’s departure.

Eko Hot Blog reports that the Board of TVC Communications, owners of TVC News, TVC Entertainment, Max FM and Adaba FM, has announced that Chief Executive Officer Andrew Hanlon will step down on April 30, 2024 after seven years leading the organization.

In a statement, TVC explained that Hanlon joined in 2017 and oversaw major organizational, infrastructure, and financial changes.

This includes delivering 330% audience growth across TV, radio and social platforms, from 5.3 million daily viewers and listeners to over 23 million by December 2023.

He also brought the company to profitability in that time.

TVC’s Chairman Kehinde Durosinmi-Etti paid tribute to Hanlon, stating: “When Andrew joined us as Group CEO he was like a breath of fresh air and the missing link we needed. He brought his vast 30+ years broadcasting experience to bear and turned the fortunes of the group around and made it very profitable.”

Durosinmi-Etti added: “His attention to detail and proactive skills ensured our programs and ratings improved exponentially and we became one of the biggest and most respected TV news stations in Nigeria.”

“Andrew also demonstrated strong commitment to our 500 staff by improving pay, conditions, and welfare by being certified twice as a Great Place to Work, making TVC Communications one of Nigeria’s best employers,” he said.

In response, Hanlon said: “It has been a privilege and honour to have led TVC Communications over the past seven years having worked with so many talented and dedicated staff. We achieved great things as a team including relaunching our TV channels, launching radio stations and social media platforms, which led to significant audience and revenue growth.”

“I wish to thank the Board for their support, and in particular, Chairman Kehinde Durosinmi-Etti, for his guidance and encouragement,” Hanlon stated.

Deputy CFO Victoria Ajayi has been appointed the new CEO effective May 1st. Ajayi said she was privileged to serve the company in different roles leading to Deputy CFO, where she supported the outgoing CEO in driving the company forward.

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