From PCUK: UK's ITV (LSE: ITV) is restructuring the original top tier of its Friends Reunited site, which relaunched last month with a new social network feel and dropped premium subs in favour of ad funding. CEO Michael Murphy is stepping back to the board to become a non-executive director, while marketing director Tim Ward is moving to ITV Consumer more generally and financial director Rob Mogford will step aside at year's end. Guardian says they're going after reaping the final tranche of a 55 million earn-out that came with ITV's 120 million acquisition in 2005. In Murphy's place as managing director comes Trinity Mirror (LSE: TNI) digital recruitment director Andy Baker. More on PCUK.
By Robert Andrews