The Board of TVC Communications, owners of TVC News, TVC Entertainment channel, Max FM and Adaba FM, has announced that its CEO and Managing Director, Andrew Hanlon, is standing down after seven successful years leading one of Nigeria’s largest media companies.
The development was revealed in a statement issued on Friday by the consultant of the media conglomerate. Victoria Ajayi has slso been announced as a replacement for Hanlon.
Ajayi, the incoming Group CEO/MD, said: “I am deeply honoured and humbled to accept the position of Group CEO/MD at TVC Communications.
“I want to express my sincere gratitude to every member of the board for entrusting me with this incredible opportunity to lead our organisation into its next chapter of growth and success.
“Over the past decade, I have had the privilege of serving in the company in different capacities which led to my last role as Deputy CFO, where I’ve been supporting our outgoing CEO in navigating the complexities of our industry and driving our company forward.
“It has been a journey filled with challenges and triumphs, and I am immensely proud of the key achievements we have accomplished together, and I look forward to driving the company to greater heights and success.
“In addition to my extensive experience in strategic management, I bring a strong educational background that complements my professional expertise.
“As a Fellow of ACCA, with an MBA from IESE Business School, I come with a unique blend of expertise in not just finance but leadership capabilities that will drive business growth.
“Similarly, as a member of Institute of Directors and The Society for Corporate Governance, Nigeria, I am committed to upholding the highest standards of corporate governance and ethical leadership in our organisation.
“Having participated in programmes at prestigious institutions such as Cambridge Judge Business School, Harvard Business School, and BBC, I am fully committed to building upon our past successes and leading our company to new heights of innovation, resilience, and prosperity.
“With the support of our talented team and the guidance of the board, I am confident that we will continue to be a leader in the media industry.”
Since joining in 2017, Hanlon has overseen significant organisational, infrastructural and economic changes at the broadcaster, including, delivering growth of 330 percent across all television, 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 cost and revenue improvements, bringing the company to profitability in that time.
He will step down from his role on April 30, 2024.
Paying tribute to Hanlon, the Chairman of the Board of Continental Broadcasting Services Limited, owners of TVC Communications, 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.”
Commenting on his decision to step down as CEO and Managing Director, Hanlon said: “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.
“I wish also to pay special tribute to Mr Ronan Redmond, our Commercial Director, who is also stepping down after serving with us since 2017.
“He is, without question, one of the best strategic media revenue specialists in our sector and I am grateful to him for producing outstanding revenue results every year and for his support to me personally.
“Finally, I am delighted that our Deputy Chief Financial Officer, Mrs Victoria Ajayi, will now take over the running of the company and bring it to even greater success.
“Aside from being a very talented chartered accountant, she has an in-depth knowledge of our business and a desire to continue the pathway to growth and development.
“I believe she will also be the only female to run a national media company in Nigeria at this time which fits seamlessly with our core values of promoting talented women in the workplace.