Nine Entertainment CEO Mike Sneesby has announced he will step down from his position at the end of September, concluding a tenure marked by both significant achievements and recent challenges.
Sneesby, who has led the company for three and a half years, revealed his decision in a note to staff, describing the past year as one of the most challenging of his career.
Sneesby’s departure comes ahead of an independent review into workplace culture, set to be completed by the end of October. During his tenure, Sneesby was instrumental in guiding Nine through the COVID-19 pandemic, securing rights to the Olympic Games through 2032, and spearheading the strategic and cultural transformation of the company. His leadership also saw the successful expansion of Stan, the streaming service he helped found, which now boasts over two million subscribers.
Nine Chair Catherine West expressed gratitude for Sneesby’s contributions, noting his role in navigating the company through turbulent times and his success in enhancing Nine’s media assets.
“Mike’s achievements include steering the company through challenging periods, and his leadership has been key in showcasing the strength of Nine’s diversified media portfolio,” West said.
As Sneesby steps down, Chief Finance and Strategy Officer Matt Stanton has been appointed as acting CEO, effective October 1. The Board and Sneesby agreed that now is the right time for a leadership transition, given the completion of the company’s financial results and successful coverage of the Paris Olympics.
The announcement follows recent news of up to 200 layoffs at Nine Entertainment. The Board has expressed confidence in Stanton’s ability to lead the company during this interim period while a search for a new CEO is underway.
In his farewell message, Sneesby reflected on his decade-long career with Nine and Stan, acknowledging the intense scrutiny faced this year but expressing confidence in the company's future. He emphasised his commitment to seeing through the ongoing cultural review and maintaining Nine’s high standards as he departs.
