BBC Worldwide CEO John Smith leaving the Britcaster after 8 years; replaced by Tim Davie from 1 December.

BBC Worldwide CEO John Smith (left) is leaving after 8 years at the helm of the commercial arm of the BBC (and 18 at the BBC in total); he will be replaced by Tim Davie.

BBC Worldwide runs the channels such as BBC Entertainment, BBC Lifestyle, BBC Knowledge and CBeebies in South Africa on MultiChoice's DStv and also produces format shows which are shown globally. BBC Worldwide has become the world's largest owner of TV channels and the largest TV distributor outside of US companies. The channels operation now attracts over 360 million subscribers around the world to its BBC-branded portfolio of channels.

Tim Davie (right), currently the BBC's director of audio and music will take over on 1 December 2012. John Smith told staff he is leaving the BBC to pursue new opportunities in the commercial sector.

"Tim will now take the BBC's commercial arm into the next chapter of its development," says George Entwistle, BBC director-general in a press statement.

"I look forward to leading BBC Worldwide through its next phase of growth, delivering further dividends to the BBC and championing great British content around the world," says Tim Davie in the same statement.