Nine CEO Mike Sneesby has announced he will step down from his position after three-and-a-half years in the role.
In an email to staff, Sneesby said he was “extremely proud” of what he achieved in the business, and his decision came after consultation with his family.
“I want to be completely open about the circumstances surrounding my departure. To give some context, this year has been one of the most challenging in my career – one where our resilience has been tested,” Sneesby said.
“Despite the intensity of the scrutiny, my focus has not wavered from achieving the best outcomes for our people and for Nine.”
Sneesby will stand down from his role on September 30 this year.
Nine Chair Catherine West confirmed to the market that Nine’s Chief Financial and Strategy Officer Matt Stanton will be stepping into the role as acting CEO from October 1.
”On behalf of the Board, I thank Mike for his significant contribution to Nine over more than a decade,” West said.
“As Chief Executive Officer, his achievements include guiding the company out of the challenging COVID-19 pandemic, securing the rights to the Olympic Games through to 2032 and progressing the strategic and cultural transformation of Nine.”
Sneesby said the decision to stand down came after discussions with the board.
“Recently when our Board opened a discussion with me about my tenure, we agreed that the timing was right to commence a leadership transition,” he said.
“With commitments around Nine’s full-year financial results completed and Nine having successfully delivered the world-class coverage of the Paris Olympics and Paralympics, the Board and I agreed now was the best time for a transition to commence.”
