Ten Network Holdings Limited
(ASX:TEN) boss Hamish McLennan will step down from his dual roles as CEO and Executive Chairman effective immediately.
Mr McLennan said: “The strategic arrangements announced on June 15, including the proposed investment by Foxtel in TEN and the transformative agreement with MCN mean that my role is complete”.
Non-executive director David Gordon has been appointed as Chairman effectively immediately. Mr Gordon has been a director of Ten since April 2010 and was closely involved in the tie-up with Foxtel. He will be the television network’s fifth chairman in five years.
Current COO and CFO Paul Anderson will take the helm as CEO from today.
Ten Network made a net loss of $261.33 million for the first half of the 2015 financial year.
