Nine chief executive Mike Sneesby will depart the company at the end of this month after three-and-a-half years in the role.
Nine chief executive Mike Sneesby will depart the company at the end of September after three-and-a-half years in the role.
“The world-class coverage of Paris 2024 showcased the power of the Nine’s diversified portfolio of premium media assets.”“It’s also important to acknowledge Mike’s immense contribution to the success of Stan, building a successful streaming service that now boasts a broad entertainment and sport footprint with more than two million paying subscribers.
Nine’s share price has lost 57 per cent since the start of Sneesby’s tenure. Nine’s market capitalisation fell below $2 billion this week, and is currently sitting at $1.96 billion. Its share price has suffered similarly to other media stocks due to prevailing market conditions, and is down 38 per cent across the year to date, closing at $1.24 on Wednesday.
This report was instigated after staff unrest prompted by a sexual harassment scandal centring on Nine’s former head of news and current affairs Darren Wick. Nine management has been criticised for not acting more swiftly to remove Wick after a number of complaints, along with the handling of his exit.Sydney Morning Herald
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