The announcement that Grade will become non-executive chairman of ITV before the end of 2009 has already triggered Paddy Power to draw up odds for his successor.
The other favourites include Dawn Airey, chief executive of Five, at 3/1 and Rupert Howell, managing director of ITV brand and commercial, at 7/2.
Airey's commercial television experience at Channel 4, Sky and Five would make the top job at ITV a natural progression for her. She was hired by Grade to lead ITV's production division and was seen as a potential successor until she quit to join Five a year ago. The question is whether Grade would welcome her back.
Should the board look to cast a man with a similar TV history as Grade, Peter Fincham -- the ITV director of television and former BBC One controller -- is 4/1 with the bookie.
Greg Dyke is 12/1 for a return with Channel 4's Andy Duncan 10/1.
With ITV's programming schedule largely hostage to Simon Cowell's golden touch, 'The X Factor' judge is 250/1 to be handed the reigns with Ant & Dec 500/1.
Darren Haines, spokesman for Paddy Power, said: "In recent times ITV have gone for a TV man but in these tougher times they may be looking for a man more savvy with the balance sheet and Cresswell seems to fit the bill."
Next CEO of ITV - full list of runners and riders:
9/4 John Cresswell
3/1 Dawn Airey
7/2 Rupert Howell
4/1 Peter Fincham
6/1 Michael Jackson (STV)
8/1 Stephen Carter
10/1 Andy Duncan
12/1 Greg Dyke
14/1 Tony Ball
18/1 Martin Stewart
20/1 Ian McCulloch
25/1 Simon Shaps
33/1 Jeff Henry
40/1 Roger Parry
250/1 Simon Cowell
500/1 Ant & Dec
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