Nine Entertainment names Mike Sneesby as new CEO after Hugh Marks steps down

After a four-month vetting process, Nine Entertainment has named Stan’s head honcho as its new boss.

Mike Sneesby has been appointed the new CEO of Nine Entertainment. Picture: Hollie Adams/The Australian

Nine Entertainment Co. has named Stan’s head honcho Mike Sneesby as the successor to outgoing chief executive Hugh Marks.

NEC chairman Peter Costello said it was a significant appointment and Mr Sneesby was the right person for the company, to maintain strong momentum in the entertainment industry and build their audience, subscribers and content revenue.

“Mike is well placed to continue to drive Nine’s transformation as a digitally led business which is actively adapting to meet the contemporary media consumption habits of Australians,” Mr Costello said in a statement.

Mr Sneesby is believed to have been chosen above Nine’s chief digital and publishing officer Chris Janz and Carl Fennessy who is the former joint CEO of Endemol Shine Australia, after a four-month vetting process.

In his statement, Mr Costello also paid tribute to Mr Marks, who in 2015 inherited a legacy television business with a market capitalisation of around $1.3bn and left it valued at about $5 billion.

NEC chairman Peter Costello says Mike Sneesby is the right person to take the company forward and improve their audiences and profitability. Picture: Josie Hayden

“His time as CEO has seen Nine make a number of key strategic decisions, which not only redefined Nine but changed the wider media landscape in Australia,” he said.

Hugh Marks resigned suddenly last November after five years at the helm.

Staff were notified via an email in which he wrote that it was “a privilege” to have led the business over “a truly transformational period for both the media market generally”.

Hugh Marks informed staff via an email last November that had resigned as CEO of Nine Entertainment Co after five years at the helm. Picture: Jane Dempster

Mr Sneesby takes on the role after working as the CEO of Stan Entertainment since its launch in January 2015.

Prior to Stan, he was CEO of the Microsoft/Nine e-commerce joint venture Cudo, up until its sale in 2013 and he also set up the InVision IPTV service in Dubai as Vice President of IPTV for the Saudi Telecom/Astra Malaysia joint venture lntigral.

“I look forward to building our future together as we embrace the opportunities presented in the emerging and growing digital future,” he said.

Mr Sneesby will officially step into the role on April 1.

Originally published as Nine Entertainment names Mike Sneesby as new CEO after Hugh Marks steps down