Nine confirms acting chief executive Matt Stanton will officially take on role of CEO and managing director

Nine Entertainment has officially appointed acting chief executive Matt Stanton to lead the company as CEO.

Matthew Stanton has officially been appointed chief executive officer and managing director of Nine Entertainment after standing in the role for five months.

Mr Stanton joined Nine as their chief strategy officer in 2022, having previously worked with Barambah Organics, Woolworths and Bauer Media in the retail, food and beverage and media sectors.

He has been credited with transforming Nine’s operating model, refreshing the executive team and accelerating strategic and cultural reform programs at the network.

Nine Entertainment has announced Matthew Stanton will continue as the company’s chief executive officer and managing director, after making his acting role permanent. Picture: Nine

Mr Stanton said he’d been buoyed by the buy-in from people across the company as Nine progressed its plans to reset and grow the business.

“I am committed to continuing to reform and strengthen Nine in the interests of all shareholders and our people,” he said.

Nine’s board had appointed the former commercial chief executive to the roles as an interim measure during an international search to find a suitable candidate.

Chair Catherine West said Mr Stanton had done an outstanding job as acting chief executive and the board was delighted with its decision.

“Following a thorough and competitive recruitment process, Matt was clearly the best credentialed leader to maintain the momentum on our strategic and cultural transformation,” she said.

“Matt’s mix of strategic and commercial acumen, transformation and media experience, strong values, and an open and collaborative approach to leadership, make him the right person to lead Nine.

“After developing the group strategy, Matt has a deep understanding of Nine, our priorities, culture and people and has earned the respect of the senior leadership, the broader workforce, the market and the Board.”

Nine’s former chief executive Mike Sneesby resigned in September following a turbulent year for the media company. Picture: NewsWire / Martin Ollman

Mr Stanton took over as acting chief executive from Nine’s former boss Mike Sneesby following a turbulent year for the company.

An external workplace review into the culture of Nine’s newsrooms made 22 recommendations in a damning report that found “concerning levels of inappropriate workplace behaviours at Nine”.

The company cut 200 staff in July when Meta announced it would scrap $100m paid to Australian media companies collectively for their content.

According to its half-year results released last month, the company planned more restructuring as part of its “strategic and cultural transformation”.

Cost-cutting, including lay-offs, delivered $35m worth of efficiencies for the December half, and Nine said it would exceed its previous target of $50m in cost savings for the financial year.

The company posted a half-year net profit of $95m as revenue grew 1 per cent to $1.41bn.

Originally published as Nine confirms acting chief executive Matt Stanton will officially take on role of CEO and managing director