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Stan man moves up a rung to become Nine's new chief

Business

Nine’s new chief executive is Mike Sneesby. He replaces Hugh Marks who announced in November he was leaving the media and entertainment group after five years in the top job.

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Sneesby has been the CEO of Nine’s Stan Entertainment streaming business since its inception.

Nine chairman Peter Costello said it was a significant appointment.

“Under Mike’s leadership, Nine will be able to maintain the strong momentum it has built in audience, subscribers, content, revenue and earnings,” he said in a statement on Wednesday.

“Mike is well placed to continue to drive Nine’s transformation as a digitally-led business which is actively adapting to meet the contemporary media consumption habits of Australians.”

As CEO, Mr Marks, 54, presided over the company’s 2018 merger with Fairfax and the acquisition of the Macquarie Media radio network.

Last week, Nine reported a 79 per cent gain in 2020/21 first-half earnings to $181.8 million after advertising increased by more than expected.

Nine now operates TV channels, radio stations such as 2GB in Sydney, and publishes titles including The Sydney Morning Herald and The Age.

Marks will officially finish up at Nine on March 31 ahead of Sneesby taking over on April 1.

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