Grade's £6m shares slammed

BECTU has poured scorn on the news of ITV Chief Executive Michael Grade's £6m shares grant.

Barely seven months after taking over the reins at ITV plc, Grade, who joined the broadcaster in February on a reported £8m pay deal over three years, has accepted a £6m share incentive grant.

The announcement comes just days after ITV has put 100s of jobs at risk in regional news by planning to cut the number of programmes from 17 to 9.

The ITV Unions Committee holds its regular quarterly meeting on Tuesday 18 September in Birmingham.

This meeting of representatives from BECTU, Amicus and the NUJ, from across the ITV, is likely to consider a motion critical of Michael Grade.

Sharon Elliott, BECTU broadcasting official said: "Michael Grade's acceptance of this shares grant is unethical. The credibility of his rallying cry this week to staff to work harder to escalate recovery at ITV has been snuffed out in a instant with this news.

"Michael Grade has led from the front in appealing to his staff to work smarter and more creatively; he is also proposing that some staff in regional news should make the ultimate sacrifice - with their jobs - to protect regional news for the longer term.

"But what is happening behind the scenes? The old-fashioned smash and grab of greedy senior executives who appeal to staff to accept capped pay rises at the same time as they line up extraordinary rewards for themselves," continued Elliott.

The union believes:

• Grade's arrival was greeted in every quarter with enthusiasm and yet he and his Board appear all too ready to squander that renewed faith with this reckless move.
• Staff throughout ITV, from local management down, will be stunned by this own goal.
• Local managers will have to face down the criticism they will inevitably meet from staff as they set about reinforcing the company's belt-tightening message.

"As broadcasters have come under a critical spotlight in recent months, Michael Grade was first amongst the chief executives to promote zero-tolerance of shabby practices in programme making.

"Now staff will be asking whether the man at the helm is himself a man of integrity worthy of their trust," Elliott concluded.