British TV news powerhouse ITN said Wednesday that CEO John Hardie has decided to step down at the end of 2018, following nine years at the helm.

Since joining in 2009, he has overseen a turnaround that has returned the company to profitability and diversified its business. The company has reached record revenue and profits under his leadership.

ITN didn't immediately name a successor, but said it would start a search for Hardie's successor "shortly."

"It has been my honor and privilege to lead this unique organization for nearly a decade, working alongside some of the very best in the business," said Hardie. "But the time has come for me to start the next chapter of my career and pursue some long-held ambitions, and it is absolutely the right time for a new CEO to take the reins."

He added: "It will be my enduring pride to have played my part in shaping ITN into one of the most successful, highly-regarded television production companies in the U.K., solidifying its position not only in world-class broadcast news but also in television production, sports, advertising and digital."

Said ITN chair Geert Linnebank: "Over the past nine years, John has led an incredibly successful turnaround of ITN, transforming it into a thriving, profitable and diversified organization with a global reputation for excellence. Under his skillful leadership, ITN has seen a period of unprecedented growth, reaching record levels of revenue and profits. He leaves the company in fantastic shape for the future, with a strong blueprint for further expansion both in the U.K. and internationally."