Hanlon Steps Down as CEO of TVC, Ajayi Named Successor

Hanlon Steps Down as CEO of TVC, Ajayi Named Successor

Mary Nnah

The Board of TVC Communications, owners of TVC News, TVC Entertainment channel, Max FM, and Adaba FM, has officially announced the appointment of a new Group Managing Director, Mrs. Victoria Ajayi to lead one of the largest media companies in Nigeria.

Ajayi, who will take over from May 1, is currently the Deputy Chief Financial Officer of the company, a statement from the company said.

Under Hanlon’s leadership, TVC Communications experienced significant organisational, infrastructural, and economic changes.

The broadcaster achieved a growth of 330 per cent 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.

Additionally, the company said it achieved substantial operating cost and revenue improvements, bringing it to profitability.

The Chairman of the Board of Continental Broadcasting Services Limited, Mr. Kehinde Durosinmi-Etti, praised Hanlon for his vast experience and commitment to improving the quality of TVC Communications’ programmes and ratings.

Hanlon also improved pay, conditions, and general welfare for the company’s 500 staff, making TVC Communications one of Nigeria’s best employers.

Hanlon will step down on April 30, 2024, and will be replaced by the current Deputy Chief Financial Officer, Mrs. Victoria Ajayi.

Hanlon expressed his appreciation to the company’s Board and senior management teams for their support in achieving TVC Communications’ goals and aspirations. He also paid tribute to Mr. Ronan Redmond, the Commercial Director, who is also stepping down after serving the company since 2017.

Commenting on his decision to step down as CEO/ 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 re-launch of our two TV channels, the creation of MAX FM radio in Lagos and Abuja and the launch of our social media platforms, which 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,” he said.

 Incoming Group CEO/MD, Ajayi, expressed her gratitude to the Board for entrusting her with the opportunity to lead the organisation into its next chapter of growth and success.

She brings extensive experience in strategic management, complemented by a strong educational background, having earned her MBA from IESE Business School and is a Fellow of ACCA, the statement added.

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