The Board of TVC Communications, owners of TVC News, TVC Entertainment channel, Max FM and Adaba FM, has announced that its Chief Executive Officer and Managing Director, Mr Andrew Hanlon, will step down on April 30, 2024.

He is stepping down after seven years.

A statement by TVC on Thursday explained that Hanlon, who joined the organisation in 2017, had overseen organisational, infrastructural, and economic changes at the broadcaster.

According to the statement, “these include delivering growth of 330% across all TV, radio and social media channels from a daily audience of 5.3 million viewers, listeners and readers to 23 million by December 2023, in addition to substantial operating costs and revenue improvements, bringing the company to profitability in that time.”

Meanwhile, Deputy Chief Financial Officer, Mrs Victoria Ajayi, has been appointed CEO and MD with effect from May 1, 2024.

Paying tribute to Hanlon, the Chairman of the Board of Continental Broadcasting Services Ltd. (owners of TVC Communications), Mr Kehinde Durosinmi-Etti, said, “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 experience of 30+ years in the broadcasting business to bear and turned the fortunes of the group around and made it very profitable.

“His attention to detail and his proactive organisational skills ensured that the quality of our programmes and ratings improved exponentially and we became one of the biggest and most respected TV news stations and broadcast businesses in Nigeria.

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

“Andrew has set a very high bar and will be replaced by our current deputy chief financial officer, Mrs Victoria Ajayi, who has proven to be steady and reliable and will have to ensure that we keep moving forward seamlessly.”

Hanlon responded, “It has been a privilege and an 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 the relaunch of our two TV channels, the creation of MAX FM radio in Lagos and Abuja and the launch of our social media platforms, which together, led to significant audience and revenue growth.

“I wish to thank the Board of the company for their unstinting support, and in particular, the Chairman of the Board, Mr Kehinde Durosinmi-Etti, for his guidance and encouragement.

“I also wish to express my appreciation to my senior management teams over the years who worked tirelessly with me to help achieve our goals and aspirations.”

The incoming Group CEO/MD, Ajayi, said she had the privilege of serving in the company in different capacities which led to her last role as Deputy CFO, where she had been supporting the outgoing CEO in navigating the complexities of the industry and driving the company forward.