The founder of oOh!media (ASX: OML) Brendon Cook has announced his intention to step down from his role of managing director and CEO of the advertising and media company.
His resignation follows 30 successful years leading the business made famous for its unmissable billboards and digital signage campaigns.
Cook will remain on the board as MD and CEO until the completion of a global executive search for a replacement.
Following the hunt for a new CEO, Cook will remain on the board in a non-executive consulting position to provide ongoing strategic advice and to aid with the transition.
"To have witnessed the Company grow to the size and scale it is today is immensely satisfying and I am delighted I will continue to be part of the oOh! story to ensure it is well set up for the next stage of growth," says Cook.
oOh! chairman Tony Faure says the company's success can largely be attributed to Cook's vision for the company.
"Brendon has been a true pioneer of the Out Of Home industry in Australia," says Faure.
"Having founded oOh! in 1989, he has been an innovator and passionate industry leader."
"Brendon had the foresight to recognise the growth potential of digital and has been a powerful advocate for the development of new outdoor environments to capitalise on the rapid growth in media consumption habits away from the home. He also led the development of new ways to measure the true value of the out of home segment."
Further to Cook's resignation oOh!media has announced that its upgraded FY19 underlying EBITDA earnings guidance will tend toward the lower end of the $138 million to $143 million range.
The company will report its FY19 results on Monday 24 February 2020.
Business News Australia
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