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Executive at Big Brother creator Endemol leading race to be Mecom boss

A senior executive at Big Brother-creator Endemol is the frontrunner to become Mecom's new chief executive.

Undated Channel 4 handout photo of the new brightly coloured floral wreath which was unveiled as the final Big Brother eye logo
Endemol created Big Brother Credit: Photo: PA

Following a long search process, sources said the pan-European newspaper group, which currently has no chief executive, is close to appointing Tom Toumazis.

Mr Toumazis is Endemol's chief commercial officer and a former senior Disney executive.

Mecom, which has been without a chief executive since the ousting of founder David Montgomery in January, is understood to have wanted to announce the appointment at its annual general meeting on Thursday.

However, it is thought that final negotiations with Mr Toumazis may not be completed by then.

An announcement from Mecom, whose businesses include the Netherlands' largest regional publisher, is expected within the next few weeks.

Mecom has been seeking an executive with a background in working for a global media group.

Mr Toumazis does not have a history of working in newspapers, but is responsible for Endemol's worldwide commercial activities.

His current remit includes the expansion of Endemol's distribution business and worldwide sales, as well as co-productions and the sale of scripted programmes.

He was previously the managing director of Disney's television channels in Europe, the Middle East, Africa and Canada.

Former chief executive Mr Montgomery was due to leave Mecom at the end of January as part of a "planned retirement" agreed in September following a shareholder revolt, but he quit suddenly in the middle of January.

Mr Montgomery had said he wanted to stay on, citing evidence that Mecom's financial performance had improved and that no suitable replacement has been found.

However, the board failed to agree to this, with rebel shareholders Legal & General and Aviva threatening an extraordinary general meeting if he did not leave.

Stephen Davidson, the chief executive of Telewest, was made the company's executive chairman in January following a boardroom coup to oust the non-executive incumbent Alasdair Locke.

Mecom said in January that a "further announcement regarding succession will be made shortly".