Nine Entertainment Co. (ASX:NEC) Appoints Matthew Stanton as CEO
CEO Appointment
Nine Entertainment Co. has appointed Matthew Stanton as Chief Executive Officer and Managing Director, effective immediately, following a comprehensive international search. Mr Stanton brings extensive experience from the media, food and beverage, and retail sectors, including previous roles as CEO of Barambah Organics and Bauer Media.
Employment Terms
Mr Stanton’s annual remuneration is $1,600,000, with a Short Term Incentive of $1,600,000 at target and $2,400,000 at stretch. Additionally, he is entitled to $2,000,000 in performance rights, subject to shareholder approval and specific performance hurdles over three years.
Executive Comments
Nine Chair Catherine West said, “The Board is delighted to confirm Matt as the Nine CEO. Following a thorough and competitive recruitment process, Matt was clearly the best credentialled leader to maintain the momentum on our strategic and cultural transformation. He has done an outstanding job as Acting CEO. Matt’s mix of strategic and commercial acumen, transformation and media experience, strong values, and an open and collaborative approach to leadership, make him the right person to lead Nine. After developing the Group strategy, Matt has a deep understanding of Nine, our priorities, culture and people and has earned the respect of the senior leadership, the broader workforce, the market and the Board.”
Nine Chief Executive Officer Matthew Stanton said, “It’s an honour and a privilege to lead the talented and dedicated team at Nine. Nine is a great Australian company that plays a vital role in the national conversation. We have an exciting future, underpinned by the best people and assets in the media sector. We have moved at pace in recent months to strengthen the Group, and I’ve been buoyed by the buy-in from people across the company as we progress our ambitious plans to reset and grow the business. I am committed to continuing to reform and strengthen Nine in the interests of all shareholders and our people.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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