French broadcaster TF1’s administrative council is today expected to propose changing the company’s statutes to allow CEO Nonce Paolini to continue beyond the previous retirement age limit and continue to lead the company for a further three years from 2014 until 2017, according to French newspaper Le Figaro.
The change will have to be approved by a two-thirds majority of the annual shareholders meeting in April. According to Le Figaro, principal shareholder Martin Bouygues has already given his agreement for Paolini to continue in his post.
The last year has seen a strong primetime performance from TF1, consolidating its leading position amongst France’s free-to-air channels. The group has also struck a landmark deal with Discovery Communications that will see it sell all of its interest in Eurosport and 20% of its other pay TV channels to the US giant, freeing up cash to allow it to invest further in free-to-air.