Breaking finance and business news, tax information, jobs and more for finance directors and senior finance professionals.

Ormerod, 58, is a chartered accountant.  After reading physics at Oxford University he joined Arthur Andersen and became UK Managing Partner before negotiating a transaction between Andersen and Deloitte & Touche in 2002.

During his career he has been an advisor to companies in the TMT sector. Since retiring from Deloitte & Touche in 2004 he has accepted a number of non-executive roles, including Computacenter plc, Misys plc and Gemalto NV.

ITV said that he will join the audit committee of the ITV board where his extensive experience of audit committee work both in senior partnership roles at Deloitte & Touche and Arthur Andersen and now as a non-executive director will contribute significantly to that committee’s work.

The TV company (LSE:ITV) announced in August 2007 that John McGrath would step down from the board at the end of the year, and he retired from the board on 17 January 2008. 

McGrath had been a non-executive director of ITV and chairman of the audit committee of the board since the formation of ITV plc in early 2004 and had previously been a non-executive director of Carlton Communications plc.

ITV chairman Michael Grade said that Ormerod combined knowledge and experience of the media and technology sectors, from both his previous roles in the accountancy profession and his current directorships.

“On behalf of the board I would like to thank John McGrath for his significant contribution to ITV, through the merger process in 2003 and as a director and chairman of our audit committee over the last three years,” he added.

Mike Clasper has taken over as ITV’s audit committee chairman.

Related articles

• Sky's ITV lesson: stakebuilding is a dangerous strategy

Related links

• ITV