The top dog at Nine Entertainment's (ASX: NEC) streaming platform Stan has been appointed as the CEO of the parent company, replacing the outgoing CEO Hugh Marks.
Mike Sneesby (pictured), who has been CEO of Stan since the platform's inception, will take on the role of CEO at Nine from 1 April, following Marks' decision to step down.
Sneesby has had a lengthy career in media and technology prior to his job at Stan, having been CEO of a Microsoft and Nine e-commerce joint venture called Cudo.
Prior to that, he set up an Internet protocol television (IPTV) service in Dubai, headed corporate strategy and business development at ninemsn, and helped Optus launch their national ADSL broadband network.
Nine Chairman Peter Costello welcomed Sneesby's appointment, pointing out the significant developments the Stan boss has made.
"Under Mike's leadership, Nine will be able to maintain the strong momentum it has built in audience, subscribers, content, revenue and earnings," Costello said.
"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."
Sneesby said he is honoured to replace the outgoing CEO who has grown Nine significantly during his six year tenure boosting the company's value from $1.3 billion to more than $5 billion.
"I am honoured to be entrusted with this important role, to be the custodian for many of Australia's most important, valuable and iconic media brands," Sneesby said.
"I have worked alongside my colleagues at Nine for many years and I look forward to building our future together as we embrace the opportunities presented in the emerging and growing digital future.
"The Nine family is made up of journalists, technicians, producers and so many dedicated to their craft, it will be the honour of a lifetime to lead them."
Marks will finish his term as CEO on 31 March and will remain available to assist Sneesby with a handover in the following months.
In his new position, Sneesby will receive $1.4 million per annum in fixed remuneration.Never miss a news update, subscribe here. Follow us on LinkedIn, Instagram and Twitter.
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