John Smith is to step down after eight years as CEO of BBC Worldwide, and Tim Davie, currently director of BBC Audio & Music, has been named as his successor.
Smith (pictured) told staff he is leaving the BBC to pursue new opportunities in the commercial sector. Davie will take up his new post on December 1.
BBC Director-General, George Entwistle, said: “I want to thank John for his enormous contribution to the success of BBC Worldwide in recent years. He has turned the company into a truly global phenomenon delivering a fantastic financial injection into the BBC every year. He leaves the company ideally set up for the future challenges it faces in a digital world.”