Nine formally appoints Matt Stanton as chief executive

After a months-long global search, Nine Entertainment has confirmed that its acting chief executive Matt Stanton will run the media company on a permanent basis.

Stanton was Nine’s chief strategy and financial officer before becoming interim CEO in September, when Mike Sneesby stepped down after a turbulent few months for the company and a sustained period of share price decline.

Nine has appointed Matt Stanton as CEO on a permanent basis.Credit: Dion Georgopoulos

Nine announced the appointment on Thursday morning. Its chair Catherine West said the board was delighted to appoint Stanton after the extensive international search for Sneesby’s successor.

“Matt was clearly the best credentialed leader to maintain the momentum on our strategic or cultural transformation,” she said. “He has done an outstanding job as acting CEO.”

Nine’s share price has jumped by almost a third since the start of the year, partly thanks to a takeover bid lodged for digital real estate portal Domain by US firm CoStar. Nine owns 60 per cent of Domain, and Stanton is also a board member of the business.

This is Stanton’s second position as media chief executive. He has previously run the magazine publisher Are Media (then Bauer Media). Before joining Nine, he ran dairy producer Barambah Organics and was chief transformation officer at Woolworths.

West praised his mix of strategic and commercial acumen, transformation and media experience alongside his strong values and collaborative approach to leadership, which she said makes him the right person to lead the media company. Nine’s operations include a commercial television network, streaming platform Stan, a radio network, and a publishing business, which includes The Age, The Sydney Morning Herald and The Australian Financial Review.

Since September, Stanton has led a cultural reset at Nine following the release of an independent review into the experiences of bullying and harassment faced by staff, prompted by the exit of former news and current affairs boss Darren Wick.

Stanton also oversaw an organisational restructure, appointing former Foxtel executive Amanda Laing to lead Nine’s television, streaming and radio businesses. The company is yet to announce her start date.

Stanton said it was an honour and privilege to lead Nine, a “great Australian company” that plays a vital role in the national conversation.

“We have an exciting future, underpinned by the best people and assets in the media sector,” he said.

Stanton’s fixed salary will more than double under his new contract to $1.6 million – $100,000 more than his predecessor Sneesby. He also stands to get a short-term bonus of up to $2.4 million.

Nine’s shares were up 0.6 per cent at $1.64 in mid-morning trading on the ASX.

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