Nine Entertainment Co. (ASX: NEC) has announced the appointment of Matthew Stanton as Chief Executive Officer and Managing Director, effective immediately.
This decision comes after an extensive international search process, which saw a high-calibre field of candidates being considered, the Australian media company said.
The Nine Board confirmed Stanton's appointment, recognising his vast experience in leading transformation programs across various sectors, including media, food and beverage, and retail.
Stanton's career includes significant roles such as Chief Executive Officer of Barambah Organics, Chief Transformation Officer at Woolworths, and Chief Executive Officer of Bauer Media (now Are Media).
Having joined Nine as Chief Strategy Officer in 2022, Stanton has been serving as Acting Chief Executive Officer since October 2024.
During his tenure as Acting CEO, he has successfully reset Nine's operating model, refreshed the Executive Team, and accelerated strategic and cultural reforms across the organisation.
Catherine West, Nine Chair, expressed her confidence in Stanton's abilities, stating that the Board is delighted to confirm him as the new CEO.
West said, “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.”
In his new role, Stanton expressed his honour and privilege in leading Nine's talented and dedicated team.
"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," Stanton said.
At the time of writing, Nine Entertainment Co.'s share price was $1.59. It's market cap was approximately $2.52 billion.