STV chief executive Rob Woodward has announced he is standing down from his role after a decade at the helm of the broadcaster.

In a notification to the stock exchange on Tuesday, Mr Woodward confirmed he will leave his position within a year, while STV's nomination committee will begin the process to find a successor.

Mr Woodward, who previously served as commercial director at Channel 4, confirmed his intention to leave STV the day after it launched new channel STV2.

He said he took the decision to leave as he seeks "fresh challenges".

Mr Woodward said: "We have made a positive start to 2017 including the launch of new channel, STV2, and further commissions secured for STV Productions.

"As I confirm my decision to pursue fresh challenges after leading the company for the past ten years, I am passionate about STV and its prospects to continue to deliver sustainable profitable growth for our shareholders.

"The company has an outstanding management team and committed and energised staff that will continue to build on the unique strategic strengths of the business."

STV Group PLC is holding its annual general meeting on Tuesday when a trading update for the first quarter of 2017 will be provided.

The outlook to end of May continues to be in line with forecasts with STV national airtime revenues expected to be down 8%.

Regional airtime revenues are expected to be up 5% in the five months to end of May, while digital revenues continue to perform strongly, up 11%, and are expected to continue to deliver a strong growth trajectory in second quarter.

Margaret Ford, chairwoman of STV Group PLC, said: "The board is indebted to Rob for his exceptional contribution to the turnaround of the group and his commitment and passion in driving positive growth over the past ten years.

"He has built a strong legacy. With a first class leadership team and staff and highly engaged board in place the company is well positioned to realise its future growth potential and continue to deliver to shareholders."