Rhys Holleran, CEO of radio network Southern Cross Austereo, has announced he will leave the network July 31, 2015. Peter Bush has been appointed executive chairman, pending the appointment of a new CEO.
Of his depature, Holleran (pictured above) said in a statement to the ASX: “I have enjoyed every second of my 18 years at Southern Cross Austereo, principally because of the outstanding individuals I have worked with. To them I say a heartfelt thank you.
“Personally, I am looking forward to some new challenges but assisting Peter with a smooth transition over the coming weeks has my full attention right now.”
Bush said: “We are very grateful to Rhys for 18 years service as leader of the business in its various forms, and in particular his last six years as CEO of Southern Cross Austereo. In this role he has fostered a cohesive team culture and relationships throughout the organisation.
“However, media is an ever changing and challenging sector, requiring a further long term leadership commitment. Rhys and the Board have come to the view that a change of leadership is now appropriate for both parties.”
Holleran has been CEO since 2009.
The network has faced a tumultuous past year and a half. The recently released half-year results for the network saw its net profit after tax drop 24.4 per cent, down to $37.4 million.
The network took a blow at the end of 2012 when radio bigwigs Kyle & Jackie O moved to rival network ARN. However, it’s not all bad news for the network as it was announced famous radio duo Hamish & Andy would return in July this year for the drive show.