Nine Entertainment has announced that CEO Mike Sneesby will step down at the end of the month after more than a decade with the media company.
In a statement to the ASX, Mr. Sneesby and the board agreed it was the “right time for a leadership transition.” Nine’s chair, Catherine West, expressed gratitude for Mr. Sneesby’s significant contributions, saying, “On behalf of the board, I thank Mike for his leadership and commitment to Nine.”
From October 1, the company’s chief finance and strategy officer, Matt Stanton, will step in as acting CEO while Nine conducts a search for a permanent replacement. Ms. West noted that Mr. Stanton is well-prepared to guide the company during this transition period.
In an email to staff, Mr. Sneesby reflected on his decision, citing the challenges of the past year and his plans to pursue new opportunities in 2025. He emphasized his continued dedication to Nine, despite recent difficulties, and expressed pride in the company’s resilience.
Mr. Sneesby also highlighted his tenure as the founder and CEO of streaming service Stan, calling it a privilege to have led Nine and affirming his belief that the company is “Australia’s best media business” with top-tier assets and talent.