Matt Stanton, the acting CEO of Nine Entertainment, has been confirmed in the top job.
The board of directors of the media company made the appointment after a “comprehensive international search”.
Stanto will be on a base pay of $1.6 million but can more than double that with bonuses.
He replaces Mike Sneesby who stepped down in September last year.
Stanton was previously CEO of Barambah Organics, chief transformation officer at Woolworths, and CEO of Bauer Media (now Are Media). He joined Nine as chief strategy officer in 2022.
“It’s an honour and a privilege to lead the talented and dedicated team at Nine,” he said.
“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."
Nine chair Catherine West said Stanton was clearly the best credentialled leader to maintain the momentum on the company’s strategic and cultural transformation.
“He has done an outstanding job as acting CEO," she said.
“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.”
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