Nine Entertainment CEO Mike Sneesby has left the building.
His last day on the job was Friday, sending an email to staff thanking them for their commitment to Nine and for the adventures shared over the past decade.
“Nine has undergone immense changes during my time. Notwithstanding the tough advertising market conditions, Nine is in great shape and placed exceptionally well for the future,” he said.
Chief finance and strategy officer Matt Stanton has been appointed acting CEO while Nine recruits a replacement for Sneesby.
Sneesby had been Nine CEO for three and a half years, and Stan CEO for almost eight. He initially started working at Nine in 2007.
Nine has been dealing with very public internal issues, including reports of a toxic newsroom culture and launching an external review following allegations of abuse of power and "drunken, lecherous behaviour".
The company has taken an axe to newsroom numbers following the loss of revenue from Meta, which now won't pay for news on its social media platforms.
Nine, like other Australian media companies, has been keeping a tight grip on costs as it battles a subdued advertising market.
Sneesby, in an internal company email, said this year was the most challenging of his career.
Nine reported a 31% fall to $134.9 million in net profit after tax for the year to June in a challenging market.
Revenue was down 3% to $2.6 billion. Total TV revenue fell 10% to $1.13 billion over the full year, impacted by a "weak" advertising market which continues into the current September quarter.
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