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The chief executive of Channel 4, Alex Mahon, is to step down after eight years and will leave the broadcaster in the summer.
During her tenure Mahon, who joined in 2017 as the first female CEO in the broadcaster’s four-decade history, helped fight off an attempt to privatise Channel 4.
The 51-year-old, who faced criticism when she took home the biggest pay packet of any chief executive in Channel 4 history, will be replaced on an interim basis by the chief operating officer, Jonathan Allan.
“She has been one of the most impactful chief executives since Jeremy Isaacs’ founding of Channel 4 more than 42 years ago,” said Dawn Airey, interim chair at the broadcaster.
Potential candidates for the top job include Allan, who applied and lost out to Mahon last time round, and the broadcaster’s chief content officer, Ian Katz.
Externally, the role is likely to pique the interest of Apple’s European creative boss, Jay Hunt, who had been the favourite to take over from outgoing chief executive David Abraham in 2017.
Hunt, who was responsible for poaching The Great British Bake Off from the BBC, still one of Channel 4’s biggest shows, resigned as the broadcaster’s chief creative officer days before the Mahon was announced as its new chief executive.
In her time at the helm Mahon navigated Channel 4 through the pandemic, although she was criticised as bosses and staff took home millions in bonuses amid talks with the government about tapping a £75m credit facility to weather the coronavirus shutdown.
Other high-profile incidents during her tenure have included the threat to review Channel 4’s broadcasting remit in 2019 after the channel decided to replace then prime minister Boris Johnson with a melting ice sculpture during a climate change debate.
More recently, Mahon has been addressing the fallout from accusations made against Russell Brand when he made shows for Channel 4 in the noughties.
Last year, the broadcaster moved to cut staff numbers by 240 in the biggest round of layoffs in 15 years, having suffered the steepest proportionate fall in revenues in its history in 2023.
Mahon had paved the way for deep cost-cutting – including moving to sell Channel 4’s London headquarters of 20 years . She told a committee of MPs that the TV industry was facing the worst advertising downturn since the 2008 financial crisis, describing it as “market shock territory”.
Big cuts to Channel 4’s content budget, and pausing some recommissions, put severe strain on the hundreds of independent producers reliant on Channel 4.
A backlash from the industry resulted in Channel 4 bosses “deferring” retention bonuses, loyalty payments meant to be in recognition of their commitment during the government’s aborted plans to privatise the broadcaster.
Mahon and Allan subsequently accepted the payments, worth hundreds of thousands of pounds, while Katz declined.
As part of Channel 4’s successful defence against privatisation Mahon promised to significantly increase the broadcaster’s presence outside London.
The broadcaster has a “national headquarters” in Leeds – and creative hubs in Bristol and Gasgow – with employee numbers in the “nations and regions” on track to reach 600 this year.
Mahon has also led a strategic shift to move Channel 4 away from its historic dependence on the declining traditional TV ad market.
While the state-owned, commercially funded broadcaster still relies on advertising for about 80% of all income, digital revenues from its streaming operation passed the 30% mark last year – a year ahead of target.
“Working at Channel 4 has been a lifetime privilege because Channel 4 is the most extraordinary organisation,” Mahon said. “From navigating the threat of privatisation … to shifting out of London, to digital transformation, lockdowns, political upheaval, advertising chaos – there has never been a dull moment.”
