Nine CEO Mike Sneesby is still on the hook for scandal, say Nine insiders

Nine Entertainment boss Mike Sneesby’s future at the media organisation ­remains uncertain.

Nine boss Mike Sneesby’s future at the media organisation ­remains uncertain, with his move to establish an independent ­inquiry into the company’s culture and its “misuse of power” unlikely to ward off ongoing scrutiny of his leadership.

Senior insiders at Nine believe while Mr Sneesby may have bought himself some time by ­announcing the review, in the hope instances of “inappropriate behaviour” will be brought to light and quickly dealt with, he does not enjoy the unequivocal backing of the seven-person board.

“The board’s support for the review shouldn’t necessarily be read as support for Sneesby,” one well-informed source said.

The review will be conducted by Intersection, an independent external organisation “specialising in trauma-informed workplace cultural transformation and in creating safe, respectful and ­inclusive workplaces,” and will be finalised by the end of July.

But, the findings of the review may yet be so damning Mr Sneesby’s position, and the jobs of other senior executives, are no longer tenable.

Mr Sneesby may not have the full backing of Nine’s board. Picture: Martin Ollman

In the past fortnight, The Australian has spoken to more than a dozen former and current female Nine employees who have ­alleged former long-serving news and current affairs boss Darren Wick behaved inappropriately towards them.

Each of those women ­expressed disbelief several members of Nine’s senior management had declared — some publicly, some privately — they were unaware of Wick’s alleged inappropriate conduct, said to have occurred over many years.

The Australian also understands former Nine staff who signed deeds of release in relation to details of misconduct by male executives at Nine will be able to participate in the review, even if they are, as per the terms of their departure or settlement, not ­legally entitled to do so.

Any legal restrictions on staff talking anonymously about their experiences at Nine will be waived.

That scenario could result in a significant widening of the existing scandal, The Australian has been told.

Meanwhile, Nine Entertainment’s share price has fallen to its lowest level during chief executive officer Mike Sneesby’s reign.

When Mr Sneesby’s appointment was announced on March 3, 2021, the company’s share price was $3.07 per share.

On Friday, Nine’s share price closed at $1.40, a fall of about 54 per cent since Mr Sneesby was appointed to the role.

The company’s share price closed at $1.56 on Friday, May 17.

This was before The Australian broke the news a female staff member had lodged a complaint against Wick prior to him departing the company in March this year.

Nine’s chairman Peter Costello was appointed to his role in February 2016, three years after the media company floated on the ASX.

Nine floated at an issued price of $2.05 per share but despite reaching over $3 during Mr Costello’s eight-year tenure, it has now fallen by 30 per cent since it opened for trading.