Here, There & Everywhere (HT&E) has appointed a new acting chairman, following the departure of Robert Kaye last week.
Paul Connolly will take over the reins of the HT&E boardroom for the meantime, having been appointed as a non-executive director of the ASX-listed company in October 2012.
Speculation has been brewing has to who will become HT&E’s new chairman since Peter Cosgrove vacated the role in June shortly after the company’s proposed sale of its outdoor media business, Adshel, to oOh!media for $570 million.
Former Foxtel boss Peter Tonagh is tipped to take claim the boardroom job, but HT&E declined to confirm or deny his impending appointment.
The personnel changes in HT&E’s boardroom come as speculation swirls around the possibility of News Corp selling its 13.3 per cent stake (worth $115 million) in the company.
The Australian Financial Review reported that stock brokers have been looking to gather fund managers interested in making a bid for News Corp’s stake, convinced that the publishing giant is gearing up to offload its shares in HT&E.