BBC Worldwide has announced that John Smith has decided to
step down after eight years as CEO during which period the
BBC's commercial arm posted record growth.
Davie, who is currently BBC Audio and Music director, has
been announced as Smith's successor Under Smith's leadership,
BBC Worldwide grew into a major global media company, doubling
its revenue, growing profits four-fold, almost tripling margins
and returning more than £1.3 billion to the BBC.
who has helped turn Doctor Who, Top Gear and Dancing With
The Stars into global franchises and recently unveiled profits
of £155 million in the last financial year, told staff
he is leaving the BBC to pursue new opportunities in the commercial
to this, Smith was the BBC COO and finance director and is
responsible for the transformation of the BBC's property estate,
including New Broadcasting House in W1.
DG George Entwistle said, "I want to thank John for his
enormous contribution to the success of BBC Worldwide in recent
years. He has turned the company into a truly global phenomenon
delivering a fantastic financial injection into the BBC every
year. He leaves the company ideally set up for the future
challenges it faces in a digital world."
the appointment of Tim Davie, Entwistle added, "Tim has
done an excellent job leading the BBC Audio and Music division
and has a fantastic vision for the opportunities that lie
ahead for BBC Worldwide. Building on John's success Tim will
now take the BBC's commercial arm into the next chapter of
its development. I am delighted he will be joining the team
at this crucial time."
said, "It has been a huge privilege to lead this powerful
business, owned by the BBC that does so much to supplement
the licence fee income and takes the BBC brand to audiences
around the world. I am extremely proud of what we have achieved
over the last eight years but I am excited to be moving on
to new opportunities in the commercial world as our revenue
and profits reach record highs."
said, "BBC Worldwide is an outstanding business that
plays a unique role in building the BBC's global reputation
and it is an honour to be asked to lead it. John's legacy
is a company with a strong performance record, leadership
in digital and rising international creative exports. I look
forward to leading BBC Worldwide through its next phase of
growth, delivering further dividends to the BBC and championing
great British content around the world."