Kevin Crowe quits Nine board

Apollo nominee Kevin Crowe has resigned from the board of Nine following the US hedge fund’s sell down.

Nine chairman David Haslingden

Apollo Management nominee Kevin Crowe has resigned from the board of Nine Entertainment Company, following the American hedge fund’s sell down of shares in the media group.

Mr Crowe served as non-executive director from February 2013 on behalf of Apollo and was a key part of Apollo’s involvement in Nine’s (NEC) IPO in 2013. His resignation is effective immediately.

The move comes after Apollo sold down its stake in Nine from 23.4 per cent to 9.8 per cent.

Nine says its has commenced a search for at least one new non-executive director in the short term.

Nine chairman David Haslingden said Mr Crowe’s knowledge and understanding of the industry, and commitment to the company, have been “outstanding”.

“In particular, his input throughout our 2013 IPO process and the 2014 debt restructure proved invaluable.

“Apollo has been and remains an incredibly supportive shareholder of NEC and we look forward to their ongoing input.”