Credit Suisse has given a ringing endorsement to Seven West Media’s (SWM) decision to appoint Tim Worner as new CEO.
Hot on the heels of media agencies warmly welcoming the decision, Credit Suisse has described the appointment as positive, and stated that its expects an internal candidate to be appointed CEO Television at some stage over the coming months.
"The appointment of Tim Worner as CEO is positive for SWM,” said Credit Suisse analyst Samantha Carleton.
She added that Worner has delivered exceptional results for the core television business and has been an integral part of the senior management team, while his appointment “not only retains key talent but is likely to encourage further strategic development and quality execution given the KPIs set.”
Carleton said Don Voelte's appointment to deputy chairman was expected but also a positive move for SWM.
"Voelte has implemented the structures and processes that SWM needs to execute its strategy outlined at its recent investor day. A deputy chairman role is fitting given Voelte's strategic thinking, rigour and discipline.”