Archie Norman, former Conservative MP has been named as the Chairman of ITV. He is replacing Michael Grade who holds a dual executive Chairman role.

ITV was looking to find a replacement for Michael Grade and now Archie Norman will take over as the Chairman of ITV by January next year. He has also headed the supermarket chain Asda.

Norman was a also part of a three member team which established and built Kingfisher as Britain's leading general merchandise retailer. After which he moved to Asda and carried out a turnaround to make Asda the second largest supermarket chain after Wal-Mart.

Norman has listed X-factor, Car crash drama Collision and Football as the best programmes in ITV. The ITV group revenue has been 1.3 billion in the 9 months, till September 30 against 1.47 billion last year. ITV is aiming to reduce costs by 155 million this year and it remains to be seen how Norman handles this assignment.