Endemol, the world’s largest independent production company, today announced that Group President Marco Bassetti has decided to step down from the company.

Sir Charles Allen, commenting on behalf of the Board, said: “We’d like to pay tribute to Marco, who joined the Group in 1997 and has made a significant contribution from both a leadership and creative perspective. He has held various roles including Chief Operating Officer, Group President and most recently interim CEO alongside Just Spee and on behalf of the Board we would like to thank him for the role he has played in the company’s success.”

Marco Bassetti comments: “With Endemol’s capital restructuring in the final stages of completion now feels like the right time for me to move on. I am leaving behind a great company, run by exceptional talent and in sound creative, operational and financial shape. It has been a great pleasure to work here.”

Marco Bassetti first joined Endemol in December 1997 when Aran, the leading Italian production company he founded in 1989, was acquired by the Group. He was appointed Chief Operating Officer of Endemol Group in October 2007 and was promoted to President of Endemol Group in August 2009. Since June 2011 he has been working alongside CFO Just Spee as joint interim CEO of Endemol.

Endemol is performing strongly in terms of growth, profitability and creativity with a market leading business spanning formats, scripted programming, distribution, digital media and brands.

In 2011 the company outperformed budgeted EBITDA and had year on year revenue growth of 10% to nearly 1.4 billion euros in spite of a challenging market. This included significant expansion in areas such as scripted programming, where year on year growth was 34%.

Across the year the company produced 189 formats in all entertainment genres, 56 of which were new shows produced for the first time, whilst its global distribution operation added 1,000 hours of new programming to its catalogue, bringing the total to 24,000 hours. Other factors included growth in emerging markets, and continued success for established formats such as The Money Drop and Big Brother, which aired in 87 countries in 2011.

During 2011 Endemol has also made decisive steps towards a successful capital restructuring and is now in the final stages of this process.