ITV GROUP Carlton could face the prospect of a shareholder vote to oust chairman Michael Green if he does not agree to go, it emerged yesterday.
David Cumming, of insurer Standard Life, which owns shares in the company, said investors could call a special meeting to force the issue through if Carlton resists calls for his resignation ahead of its planned £4bn merger with Granada.
Under plans given conditional Government backing two weeks ago, Carlton and Granada are set to be combined as a single company, to be known as ITV plc, with Mr Green as chairman and Granada boss Charles Allen as chief executive.
But major shareholders want a fresh pair of hands at the top and institutions holding more than a third of Carlton's shares are reported to have set a deadline of midday today for Mr Green's resignation.
The company issued a statement last night saying that it would not comply with the request to remove 55-year-old Mr Green, stressing the importance of continuity ahead of the tie-up, which is not expected to be completed until January.
Carlton Television owns licences for five regions - London, Central, West Country, HTV West and HTV Wales. It makes programmes such as Survivor.
A tie-up with Granada would leave the new company with control of all but four of the ITV regions.
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