Foxtel has today announced its chief operating officer Rohan Lund has quit his post as CEO. Lund has been with the pay TV provider for two years, having originally joined from Seven West Media.
In a statement to media, Foxtel chief executive Richard Freudenstein said: “In recent discussions with Rohan we have agreed that the group structure no longer requires the COO position and that his role should now be split between different business divisions. Therefore, Rohan has decided to leave Foxtel and look for opportunities elsewhere.”
The move follows-on from Foxtel’s recent halving of its subscription rates forced upon it by the introduction of SVOD players in the Aussie market, primarily Netflix.
Lund’s responsibilities will be shared between the chief financial officer division, the broadband division and a newly created product and operations division.
“We are very proud of what has been achieved in such a short space of time,” Mr Freudenstein said. “Significant changes have included a new pricing and packaging structure, the launch of products such as broadband and iQ3 and the establishment of the Presto Entertainment joint venture with Seven West Media.
“As we move from launch of these new businesses and initiatives to the consolidation and growth phase, it has become apparent that we need to put in place a flatter executive structure by appointing senior executives to take direct responsibility for them.
“At the same time management of Presto Entertainment has moved to the joint venture, which now has its own board and management structure.”