Nine CEO Mike Snessby announced his Resignation this morning.
Leaving the company by the end of September.
Sneesby will stand down from his role on September 30 this year.
Nine Chair Catherine West confirmed to the market that Nine’s Chief Financial and Strategy Officer Matt Stanton will be stepping into the role as acting CEO from October 1.
The company’s chief financial officer, Matt Stanton, will replace Mr Sneesby in the interim and a search will begin for a permanent successor.
Good Riddance - remember, this was the guy who thought it was okay to go to Paris and participated in the torch relay, while print journalists were asking for a pay rise and going on strike.
Very quick departure and before the release of the report into workplace culture.
Politics and optics aside, surprised he is going, Nine continues to weather the ongoing revenue drain that is streaming.
Apart from the controversies over the past couple of years, Sneesby’s biggest achievements at NEC are laying the foundations for the success of Stan, and also securing a multi-year broadcast deal for the Olympic Games including Brisbane 2032.
Yes, good 'ol Nike Snessby eh!
Great timing with the release of the culture report imminent. This allows a reset under new leadership.
Which looks quite likely to be Amanda Laing.
Acting Director of MEAA Media, Michelle Rae, said the strike was effectively a vote of no confidence in the direction Sneesby had taken the company.
“Journalists went on strike because they were sick and tired of Nine putting the interests of high returns to shareholders ahead of investment in the editorial frontline staff upon whom the company’s reputation for independent quality journalism depends,” she said.
“They want an end to the cover ups and big pay outs for bad behaviour by Nine executives. They want an end to the overseas junkets to the Paris Olympics and other events. And they want an end to the mindless cuts that included up to 90 print editorial jobs announced in the middle of an enterprise bargaining campaign.”
He is doing a runner that’s for sure.
No doubt when the report is released he will be overseas or something.
I hope they get the replacement right. Perhaps pick someone EXTERNAL!
ABC’s Media Watch tonight had a wrap of press coverage over Mike Sneesby’s resignation.
https://www.abc.net.au/mediawatch/episodes/sneesby/104357692
I’ll just leave this here.
Who would be sell NRN to? Can’t be SCA since they are trying to get out of TV - only other option would be Paramount, but I doubt they would be interested in purchasing a small TV station (in comparison to their large US and UK markets) in Australia when they seem to be focusing on streaming.
NRN on its own doesn’t make much sense for Paramount, but buying out NRN and all of SCA’s Ten assets in one fell swoop makes much more sense.
If this works out do we think Win will fold into Nine eventually.?
You’d have to think that’s what he’s angling for here?
But this is Bruce, anything could happen.