Having become its own headline,the media company has adopted the same strategic playbook followed by so many scandal-affected corporations.
The chief executive’s departure comes less than a week after Nine’s successful month-long Olympics and Paralympics coverage concluded,and with a tough set of financial results in the rearview mirror.
The countdown to Mike Sneesby’s exit from Nine Entertainment started the minute his greatest board ally – former chairman Peter Costello – left in June.
Nine chief executive Mike Sneesby will depart the company at the end of this month after 3½ years in the role.
Chair Catherine West says the media group has continued to perform well in a challenging market,and started this year “on a positive note” with its Olympics coverage.
Australia’s star swimmers Mollie O’Callaghan and Ariarne Titmus achieved the highest ratings in Nine’s coverage of the Paris Olympics.
Not everyone agrees that buybacks are an efficient use of a company’s capital.
The industrial action threatens to derail Mike Sneesby’s plans to offer cross-platform coverage of Paris 2024.
Executives from Nine’s broadcast,publishing and radio divisions are discussing the extent of cuts with staff as the company seeks $30 million in savings.
At a parliamentary hearing,Meta executives confirmed the company was considering removing news links from its platforms if the government forced it to pay for Australian journalism.
The former treasurer would know more than most that careers in the public eye often end in failure.