High profile Nine CEO Hugh Marks quits

Nine chief executive Hugh Marks has resigned from his role at the media company Nine after confirming his relationship with a junior female executive he turned to during the pandemic.

Powerful Nine chief executive Hugh Marks has stepped down from his role as head of the $4 billion media company after being forced to confirm his relationship with a junior ­female executive he turned to during the COVID-19 pandemic because he was “lonely”.

The executive who presided over the merger of television company Nine Network with publishing house Fairfax Media in 2018 was summoned to a hastily convened online meeting with members of Nine’s board and chairman Peter Costello on Saturday.

At the meeting, Marks was grilled on his personal relationship with recently departed Nine director of commercial Alexi Baker who left the company in October. He was also questioned over his conduct with another woman on his staff.

“After five successful years for Nine, I have decided the time is right for me (to) begin the process of moving on,” Marks said in an internal memo to staff late on Saturday.

“An announcement to this effect will be made to the market on Monday and we will then commence a formal process for both internal and external candidates for my replacement. And of course, I will be around to ensure a smooth transition as the business embarks on its next stage of growth.”

Hugh Marks has resigned from his role at Nine. Picture: Adam Yip

The Sunday Telegraph understands the CEO, who sources claim was “broken” by Saturday’s events, reluctantly stepped down.

He has agreed to walk away following a six-month transition but will not have to give up his lucrative executive bonuses. These include short-term and long-term incentives that could potentially see Marks walk away with $5,037,500 — a $1,550,000 fixed salary and ­bonuses worth a staggering $3,487,500.

Early candidates as his replacement include Nine’s chief digital and publishing officer Chris Janz, previously director of publishing innovation at Fairfax Media, Stan chief executive Mike Sneesby and Fetch TV CEO Scott Lorson.

Baker, who started at Nine in 2011, stepped down from her post in October after enjoying a meteoric rise within the company under Marks who was appointed CEO of the Nine Network in November 2015.

Marks is in a relationship with Alexi Baker, pictured here in 2014. Picture: Jeremy Piper

The former Deutsche Bank and Credit Suisse analyst was at Marks’ side during the merger with Fairfax and has also played a pivotal role in decisions to dump the sporting rights to cricket over tennis and fully acquire Macquarie Radio. She and the newly separated Marks, who left his wife 12 months ago, ­embarked on a relationship which has been an open secret at Nine though Marks on Saturday said it was still in its “early days” and born of “the lonely time” presented by COVID-19 isolation.

“Coming out of COVID … people were coming back into the office. I guess I just started to think about what might be the next stage for me personally on many fronts,” Marks said on Saturday, close to tears according to one source.

“Everyone wants to be happy. People think you should be superhuman in these roles but you are still just a person.”

Peter Costello and Hugh Marks. Picture: John Feder

He denied he and Baker had breached company policies.

Marks’ resignation comes two days after Nine’s chairman Peter Costello fronted shareholders at Nine’s AGM on ­Thursday and was forced to publicly acknowledge — for the first time — photographs published by The Sunday Telegraph in May showing Marks picnicking in a Mosman park with a second female staffer, his executive assistant Jane Routledge who remains at Nine. Marks had previously denied a relationship with Ms Routledge.

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