APN News & Media has announced a major management reshuffle, with head of digital Matt Crockett and regional media division head Warren Bright squeezed out.
The Sydney-based media group has told chief development officer Crockett, a former Telecom CEO, that he’s longer part of it plans, and replaced Bright with group operations and procurement director Neil Monaghan.
Both Crockett and Bright were previously touted for APN’s CEO role, which became vacant after previous boss Brett Chenoweth was ousted in February over the company’s direction.
Crockett (pictured) had been responsible for corporate strategy, new business development and all major new digital initiatives for APN, and had previously held senior positions at international management consultancy McKinsey and Company and has sat on several Boards including his current role as director of Orion Health.
APN chairman Peter Cosgrove said APN will streamline its digital division’s management, and doesn’t plan to make any major digital investments this year.
“APN believes there is a strong future in regional newspapers to provide local news to local communities and our strategy will be clearly focused on meeting this need for our readers and advertisers,” said Cosgrove.
In February, B&T reported that APN halted shares after shareholders callrf for the 'resignation' of Chenoweth.
The company has been hit severely by the slow-down in the publishing industry in particular, and earlier this year downgraded its profit prediction by $8m, despite claiming $25m in savings last year, and a further $25m to be made this year.