Malcolm Gerrie, founder and chief executive of British TV production company Initial, will depart in the spring after 18 years at the helm.

Malcolm Gerrie, founder and chief executive of British TV production company Initial, will depart in the spring after 18 years at the helm.

Having established the firm in 1988 as Initial Film and Television, Gerrie has gone on to play a pivotal role in developing a trove of music programming for British TV.

He is understood to be in talks with a third party on a start-up. An announcement is expected in due course.

In a statement, Gerrie comments that the "time feels right" to depart. "The entertainment industry is going through a fantastic digital revolution and it's a very exciting time to be considering new ventures," he said.

Early in his career, Gerrie was closely involved in the creation of music programs "The Tube" and "The White Room." From 1993-2000, he was the creative leader behind Initial's productions of the Brit Awards.

More recently, he has overseen the launch of the U.K. Music Hall Of Fame format, and such projects as Fashion Rocks and the Orange British Academy Film Awards.

In September 2000, Gerrie was inducted onto the Music Manager's Forum British Music Roll of Honour.

The following year, he was promoted from managing director to CEO of Initial, which is a division of TV production company Endemol Entertainment U.K.