Red Bee Media CEO and long-time broadcast executive Pam Masters is stepping down and taking the newly-created role of vice chairman.

Masters was responsible for uniting the BBC's broadcasting and creative work before the creation of the BBC Broadcast division, and later oversaw its sale and reinvention as Red Bee.

"Since returning to the BBC from Channel 4 twenty years ago it has been a fascinating and challenging journey taking this business from a two-channel in-house BBC operation with 100 people to a multi-client successful commercial company of 1,300 staff with offices in six countries," said Masters.

"Now the time is right for me to step aside from the continually demanding role of being the full-time CEO."

Michael Cook, chairman of Red Bee, added: "The company is now better positioned than ever before to capitalise on the growth of outsourced playout, subtitling and creative markets globally.

"I would like to thank Pam for her outstanding contribution in leading the company’s development in the last three years... I am confident that she will continue to provide sound guidance and advice to the Board in her new role as vice chairman."