Mike Sneesby is stepping down as CEO of Australia’s Nine Entertainment

Mike Sneesby has announced his resignation as CEO of Nine Entertainment, one of Australia’s largest media groups. The move follows months of unrest, including the passing of a vote of no confidence against Sneesby and the group’s board of directors.

Sneesby’s departure will take effect from the end of the month. He will be replaced on an acting basis by CFO and Chief Strategy Officer Matt Stanton, while a recruitment process is underway.
In a statement to the Australin Stock Exchange, Sneesby said: “I believe this is the right time for a leadership transition to take Nine to the next phase of its strategic transformation” following the completion of the Olympic and Paralympic Games. ”

Sneesby was given the top job at the group, which includes television, streaming and newspapers, following the departure of predecessor Hugh Marks. Sneesby co-founded Australian streamer Stan and its CEO from 2015.

In a personal note sent to Nine staff on Thursday, Sneesby said: “I want to be completely open about the circumstances surrounding my departure. To provide some context, this year has been one of the most challenging of my career – a year that has tested our resilience. Despite the intensity of the investigation, my focus has not deviated from achieving the best results for our people and for Nine.

“Over the past few months I have been thinking a lot about my plans for the future, and in consultation with my family and those close to me, I have made the personal decision to consider new opportunities in 2025, after seeing the important work we do in our workplace doing. culture and the results of the cultural research.”

Nine chairman Peter Costello resigned in June after an alleged scuffle with a reporter at Canberra airport. Costello denies the claim. In March, the group’s head of news, Darren Wick, quit after allegations of alleged “abuse of power and inappropriate behavior” in the newsroom. A subsequent investigation revealed that the staff had suffered trauma.

In June, Nine announced plans to cut 200 jobs. It blamed a weak advertising market and the failure to renew a news content deal with Meta, the US social media giant. In response, Nine staff went on strike, a move that threatened to disrupt coverage of the Summer Olympics, rights Nine had acquired from rival media group Seven.