After less than a year in the role, APN Outdoor CEO James Warburton will leave the business following the completion of its acquisition by JCDecaux.
The Federal Court of Australia was the latest regulator to give the JCDecaux-APN Outdoor deal the green light, announcing its approval to APN shareholders yesterday.
The exit of Warburton is not exactly surprising, with rumours swirling for some time that he would depart following the JCDecaux takeover.
“I have thoroughly enjoyed my role and time at APN Outdoor. It has been a privilege and an honour to lead the turnaround of our company during 2018,” Warburton said in a statement.
“The takeover by JCDecaux, which represents a record valuation multiple in the Australasian outdoor industry, means that the role I was hired for will change significantly.
“I want to thank all of my colleagues at APN Outdoor for showing such passion and commitment to the plan we articulated as a management team at the start of the year, a plan that produced great results.
“I also want to thank the executive team and the board of directors for their support and for being great partners for management.
“APN Outdoor will soon be part of the biggest outdoor advertising company in the world, a company with a proven reputation for using its vast resources to drive innovation and creativity.
“It’s an exciting time for the business and the outdoor industry as a whole. I look forward to seeing APN Outdoor grow under JCDecaux’s stewardship.”