Nine has announced their new CEO Mike Sneesby after Hugh Marks stepped down late last year.
The announcement was made this morning at the Nine Studios in North Sydney and led by the Hon. Peter Costello, Chairman of Nine.
Mike Sneesby is currently head of Stan.
Marks stepped down after five years in the role. In an email sent to Nine staff, he said,
“After five successful years for Nine, I have decided the time is right for me begin the process of moving on.”
“I want to take this opportunity to tell you what a privilege it has been leading this business over a truly transformational period for both the media market generally, and particularly our business.”
It was later revealed that he was in a relationship with former commercial director Alexi Baker.
The Daily Telegraph published an article alleging that Marks had authorized a pay rise for Baker before she departed the company. The claims were later found to be incorrect, and the Telegraph apologised to them both.
Nine initially announced that they would be looking for contenders for the position both internally and externally.
During the hunt for the CEO, Nine saw a net profit of $182 million in the six months until December 2020.
Nine, which owns SMH, The Age, AFR as well as radio made TV assets, made earnings of $355 million before interest, tax, depreciation and amortisation (EBITDA), an increase of fourty-two per cent from the same period last year.
Pictured Credit: University of Wollongong YouTube
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