David Gyngell quits Nine Entertainment, hands over the reins to television guru Hugh Marks

NINE Entertainment has appointed a new chief executive, ending speculation over outgoing boss David Gyngell’s future.

Nine Network boss David Gyngell is bowing out. Picture: David Moir

NINE Entertainment has appointed television guru Hugh Marks as its new chief executive, ending months of speculation over outgoing boss David Gyngell’s future.

Mr Gyngell announced his resignation this morning, having earlier flagged that he would end his eight-year tenure at the helm of the media giant.

“I always say Nine is part of my DNA, and it’s true. From my boyhood alongside my dad [Bruce Gyngell, one of Nine’s founding executives] to this day,” he said.

“I love the culture and achievement of this company and I love its people. That won’t change.”

The high-profile TV boss will hand over the reins tomorrow, but will remain on the Nine board as a non-executive director.

Mr Gyngell made headlines last year when his public brawl with casino mogul James Packer was captured on film.

Images of the epic David-and-Goliath battle were beamed around the world after a paparazzo snapped the brawl outside Packer’s house in Bondi.

The duo, who have been friends since school and acted as best men at each other’s weddings, finally made up in August this year, when Packer declared: “He’s my closest friend and I love him”.

Front page headlines devoted to the biffo included the Courier Mail’s “James Whacker”, and a more creative interpretation by the ever-colourful NT News, below.

Front page news across Australia.

Packer and Gygnell up close and personal.

Rumours circulated that the pair had clashed over Packer’s handling of his divorce from model Erica Packer.

It eventually emerged that an angry text fired off by Mr Packer, demanding a Channel Nine news truck be moved on from outside his house, ignited the brawl — although Mr Gyngell later admitted to throwing the first punch.

Mr Gyngell’s resignation from Nine comes after months of speculation after he failed to show up at the network’s annual “upfronts” presentation.

It is not the first time he has quit the top job at Nine; a decade ago, he resigned from the same position after less than a year in the role, amid political infighting at the network when it was owned by his godfather, the late media tycoon Kerry Packer.

Mr Gyngell, who helped the company stave off bankruptcy in 2012 and helped relist it on the share market in 2013, said Mr Marks was an obvious selection as his successor.

“He’s got the experience, he’s got skin in the game, he knows the industry so well and he’s very well regarded,” Mr Gyngell said in a statement.

Mr Marks comes to the role with almost 20 years of senior executive experience in content production and broadcasting.

A former head of content, he served at Nine for seven years as director of films and television, having begun his career at the broadcaster in the 1990s as a legal counsel.

Former Southern Star chief executive Hugh Marks “an obvious successor”.

Mr Marks left Nine for Southern Star where he was chief executive for seven years and following that was an authority member at the Australian Communications and Media Authority for more than two years.

In 2013, he rejoined Nine as an non-executive board director prior to the company’s stock market listing.

Mr Marks sees the disruption caused by digital innovation in the TV industry as one of his biggest challenges in his new role.

“I come to the business and this role at a time when new platforms and business models for content are achieving reach and scale,” he said.

“It will be a challenge to find the right path but I believe we have the best team, the assets and ideas to do it.”

Mr Marks will receive a fixed remuneration of $1.4 million a year, plus short and long-term bonuses.

Nine’s chairman David Haslingden hailed Mr Marks’ extensive industry experience and thanked Mr Gyngell.

“He has led the company through a significant restructuring, while remaining an active and inspiring leader,” Mr Haslingden said.

In this morning’s statement, Mr Gyngell said it was time for him to go, and that he “confidently” wished Mr Marks “the very best.”

Shares in Nine were half a cent lower at $1.575 at 11.41am.

Originally published as David Gyngell quits Nine Entertainment, hands over the reins to television guru Hugh Marks