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Nine’s next chief executive must fix Sneesby’s strategic paralysis

A sagging share price and a torrid last five months led to investors losing confidence. Chairwoman Catherine West and her new CEO face a tough turnaround.

Ironically, the most damning indictment of Mike Sneesby’s tenure as chief executive of Nine Entertainment might have come in the praise he received on Thursday from the media group’s chairwoman, Catherine West.

In her email to staff announcing the CEO’s departure, West lists several of Sneesby’s achievements. But easily his biggest success – starting and building entertainment service Stan into a rare global example of a local streaming winner – occurred before Sneesby stepped into the top job at Nine.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/nine-s-next-chief-executive-must-fix-sneesby-s-strategic-paralysis-20240912-p5ka0h