Nine Entertainment chief executive Mike Sneesby will step down from the publishing and broadcast giant at the end of the month, ending a 3½-year tenure that included record earnings in 2022 but was marred by cultural problems and rising costs.
Mr Sneesby announced his resignation on Thursday morning after losing the confidence of Nine’s chairwoman, Catherine West, and with major shareholders unhappy about the pace of strategic changes at the television, publishing, streaming and radio company, according to people close to the matter not authorised to speak publicly.
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clarification —
A previous version said most of Darren Wick’s payout was statutory leave entitlements. The article has been updated to reflect the fact this was the entire payout.
Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
