CEO Alex Connock leaves Ten Alps
Ten Alps chief executive Alex Connock has left the media group after it announced a a £22.6m pre-tax loss.
Connock, who co-founded the company in 1998 with musician and campaigner Bob Geldof, will now "pursue other interests".
His departure comes after "an extremely tough year" for the firm, which posted a pre-tax loss of £22.6m – down from a profit of £3.2m in the previous year. Its net loss was £21.8m, compared with £2.4m in 2010.
Revenue has dived 21.5% from £66.1m to £51.9m and EBITDA fell from a £5.4m profit to a £3.7m loss.
Among the challenges the company has faced has been reshaping its Teachers TV channel after the government pulled the plug on financing.
Ten Alps chairman Peter Bertram in a statement said: "The board is very grateful to Alex for his enormous contribution to the company and we wish him well on his future.
Connock added: "There is huge talent across Ten Alps, and I wish everyone success. At the same time I am really excited about new projects in TV and online."