Mark Wood, chief executive of ITN, has announced plans to step down after six years with the news broadcaster. He will leave early next year to “pursue opportunities outside the company”, although he will remain in his other role as ITN chairman for a time.

ITN produces news programmes for ITV1, ITV London, Channel 4, and More 4, as well as supplying news to more than 250 commercial radio stations.

It also produces Setanta Sports News, the 24-hour sports news channel owned jointly by Virgin Media and Setanta.

Mr Wood is credited with leading ITN’s digital expansion. ITN On, its multimedia division, produces news and entertainment content for mobile and online platforms, including Vodafone, 3, T-Mobile, MSN and Yahoo!.

Mr Wood said: “When I took over, about 85 per cent of ITN’s revenues were from ITV and Channel 4. Broadcasting was a nongrowth area, a very important area, but nongrowth. I am proud that ITN is now flourishing as a diversified multimedia company. We have built a world-leading video clips business in ITN Source and compete head-on with the leaders in motion imagery.”

As well as ITN’s own news material, ITN Source represents British Pathé, Reuters, Channel 4, Granada and Fox News.

A spokesman for ITN’s shareholders, which include ITV, Daily Mail and General Trust, Thomson Reuters and United Business Media, said: “ITN’s new businesses are achieving double-digit growth this year and Mark has put in place a strong new commercial team.”

Mr Wood has been ITN chief executive since 2003 and chairman since 1998.

He joined ITN from Reuters, a company he had been at since he joined as a graduate trainee in 1976. With a degree in Russian and German from Leeds University, he was an ideal choice as a foreign correspondent and worked in both countries. “It’s very hard to operate in these places and the KGB and Stasi were not easy to deal with,” he said.

He became chairman of the Museums, Libraries and Archives Council in 2003 and, when he has time, likes to visit libraries and museums, the National Portrait Gallery being his favourite. His hobbies also include tennis, skiing and the opera.

Married with two children, Mr Wood lives in North London. He attended Gillingham Grammar School in Kent.