Nine Entertainment Co. (ASX:NEC)
has today announced the appointment of Mike Sneesby as Chief Executive Officer, effective from April.
The move comes following the decision by the current CEO, Hugh Marks, to step down.
NEC Chairman Peter Costello paid tribute to Hugh Marks saying in 2015 he inherited a legacy television business with a market capitalisation of around $1.3 billion. Through the combined strength that came from the Nine-Fairfax merger, our current market capitalisation has grown to just over $5 billion.
Mike Sneesby was formerly the CEO of the Microsoft/Nine Entertainment e-commerce joint venture, Cudo, up until its sale in 2013.
He has been the CEO of Stan Entertainment since its inception.
Shares in Nine Entertainment Co. (ASX:NEC)
are trading 0.49 per cent higher at $3.08.