Mike Sneesby’s elevation in focus: What’s next for Nine, Stan, and Janz
After a four month hiring process, Mike Sneesby is Nine s new CEO. Here, Mumbrella s Brittney Rigby unpacks what his departure from Stan means for the streaming business, whether there s any substance to reports of a fractious board, and why Sneesby s first big challenge will be getting his competitor applicants to stick around.
March 3, 2021 5:19
For the past seven and a half years, Mike Sneesby has led one of Netflix’s strongest competitors. On 1 April, the CEO of the $1 billion Stan will be elevated to CEO of the $5 billion Nine, and his remit will expand significantly, stretching across the unfamiliar (to him) publishing, free-to-air, and radio businesses.
Nine Entertainment names Mike Sneesby as its new chief executive
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
March 2, 2021 10:21
Former Fairfax director Patrick Allaway has announced his resignation from the Nine Entertainment Co board, just hours after the media company’s mastheads published an exclusive story detailing an investigation into deputy chair Nick Falloon over the alleged misuse of a corporate golf membership.
In a statement posted to the stock exchange just before 6pm last night, the business said the resignation will take effect in April, allowing “for an orderly transition … in light of the appointment of the new CEO and succession arrangements”.
Marks and CFO Maria Phillips delivered the financial results last week. Credit: Yianni Aspradakis
Last week, outgoing chief executive Hugh Marks delivered his final results at the company, for the six months ending in December: net profit surged by 79% to $182 million, leading to a record-high share price and, for the first time, a market capitalisation of above $5 billion.
Falloon and Allaway, along with Mickie Rosen, made up the Fairfax faction on the board and do not always see eye-to-eye with the Nine directors led by the chairman, Peter Costello, sources said.
The Sydney Morning Herald reported on Monday that Falloon was being investigated by his own company over allegations he allowed his son to use a corporate membership at a prestigious northern Sydney golf club. Falloon was reported as saying there were no issues with his use of any membership and he had not spent a dollar of company money. There is no suggestion Falloon has misused any company funds.
Moment for truth
Good morning, early birds. The cabinet minister at the centre of recently revealed rape allegations is expected to address the Australian public this morning, and a new report finds one in five Chinese-Australians have been physically threatened or attacked because of their heritage over the past year. It s the news you need to know, with
Chris Woods. PRESSING ISSUE
Note: This story discusses sexual assault and suicide.
The cabinet minister at the centre of rape allegations is expected to address the Australian public this morning, with the ABC reporting that government sources indicate he will front a press conference, deny the allegations, and not step down from his position.
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