TVC Communications Appoints Victoria Ajayi As New CEO/MD As Andrew Hanlon, Ronan Redmond Bow Out

The Board of TVC Communications, owners of TVC News, TVC Entertainment channel, Max FM and Adaba FM, has today announced that its CEO and Managing Director, Mr Andrew Hanlon, is standing down after seven successful years leading one of Nigeria’s largest media companies as Deputy Chief Financial Officer, Mrs Victoria Ajayi takes over effective May 1 2024.

Since joining in 2017, Mr Hanlon has overseen significant organisational, infrastructural, and economic changes at the broadcaster including, delivering audience growth of 330% across all TV, radio and social media channels from a daily audience of 5.3 million viewers, listeners and readers to 23 million by December 2023, in addition to substantial operating cost and revenue improvements, bringing the company to profitability in that time.

Commenting on his decision to step down as CEO & Managing Director, Andrew Hanlon sald: “It has been a privilege and an honour to have led TVC Communications over the past seven years having worked with so many talented and dedicated stoff.

“We achieved great things as a team including the relaunch of our two TV channels, the creation of MAX FM radio in Lagos and Abuja and the launch of our social media platforms, which together, led to significant audience and revenue growth. I wish to thank the Board of the company for their unstinting support, and in particular, the Chairman of the Board, Mr Kehinde Durosinmi-Etti, for his guidance and encouragement. I also wish to express my appreciation to my senior management teams over the years who worked tirelessly with me to help achieve our goals and aspirations.

“I wish also to pay special tribute to Mr Ronan Redmond, our Commercial Director, who will also step down on April 30th, after serving with us since 2017. He is, without question, one of the best strategic media revenue specialists in our sector and I am grateful to him for producing outstanding revenue results every year and for his support to me personally.

“Finally, I am delighted that our Deputy Chief Financial Officer, Mrs Victoria Ajayi, will now take over the running of the company and bring it to even greater success. Aside from being a very talented chartered accountant, she has an in-depth knowledge of our business and a desire to continue the pathway to growth and development. I believe she will also be the only female to run a national media company in Nigeria at this time which fits seamlessly with our core values of promoting talented women in the workplace.”

In her remarks, the Incoming Group CEO and MD, Mrs Victoria Ajayi said “I am deeply honoured and humbled to accept the position of Group MD/CEO at TVC Communications, I want to express my sincere gratitude to every member of the board for entrusting me with this incredible opportunity to lead our organisation into its next chapter of growth and success.

“Over the past decade, I have had the privilege of serving in the company in different capacities which led to my last role as Deputy CFO, where I’ve been supporting our outgoing CEO in navigating the complexities of our industry and driving our company forward. It has been a journey filled with challenges and triumphs, and I am immensely proud of the key achievements we have accomplished together, and I look forward to driving the company to greater heights and success.”

Victoria brings a strong educational background that complements her professional expertise. As a Fellow of ACCA with an MBA from IESE Business School, she comes with a unique blend of expertise in not just finance but leadership capabilities that will drive business growth.

Similarly, she is a member of the Institute of Directors and The Society for Corporate Governance, Nigeria.

TVC Communications is a privately owned, multi-platform, national and international full-service media organization established in 2007 and headquartered in Lagos, Nigeria employing over 500 staff with offices spread across Nigeria.

TVC wholly owns and operates a free-to-air / DTT general entertainment TV channel, (TVC) a 24-hour DTT/ DTH national news channel (TVC News) and three local FM radio stations (Max FM & Adaba FM) TVC has a combined audience of over 20 million people every day.