ER’s Bransgrove steps down

Embattled UK children’s entertainment firm Entertainment Rights, the company behind the Postman Pat and Basil Brush brands, said goodbye to its chairman and founder Rod Bransgrove today.

Bransgrove is retiring and had previously announced his intention to step down from the board. Robin Millar, who has been deputy chairman at ER since July last year, will replace him. Millar was formerly chairman and chief executive of UK publishing house Emap.

Bransgrove said: “Having now established a new executive team and a largely reconstituted board, I believe the time is right for me to hand over to a new chairman, who was recruited for this purpose. I wish the board and the staff every success in the future.”

After incurring debts of around £127m (US$188m), ER recently implemented a cost-cutting programme, which included job losses, an asset sale and a management restructure. The firm is currently in early takeover talks.