Macquarie Media CEO Adam Lang has been made redundant from his $800,000 a year role.
As first reported in The Daily Telegraph, Lang is expected to leave the radio network and home of 2GB by the end of this week.
In an email sent to staff on Monday, executive chairman Russell Tate revealed Lang’s fate.
He said he had been in discussion with Lang “for some time” about the future opportunities within Macquarie Media, while also signaling that there will be “significant change” in the next few months as Macquarie integrates its operations with Nine.
Nine CEO Hugh Marks is reportedly looking for $11 million in savings as the network merges with Macquarie media.
Tate added in his email that the Macquarie Media CEO role will be made redundant all together. He said he will assume the responsibilities of the CEO until the new structure of the organisation is finalised.
B&T reached out to Lang for comment.