Nine's Matt Stanton set to face the market amid Domain bid intrigue
The acting CEO was set for his final audition for the job on a permanent basis. Now a $2.6 billion bid for Domain has thrown a curve ball into the situation.
More than five months after being appointed Nine Entertainment's interim chief executive, Matt Stanton was set to face his final audition for the role on a permanent basis when the company reports its half-year results on Tuesday.
But now, instead of trying to sell his vision for the legacy company he will likely field questions from analysts and shareholders about how the media operator will approach the $2.6 billion takeover bid for Domain, the online real estate business it controls with a 60% stake.
Stanton is still considered the strong internal favourite for the Nine CEO role, according to company sources, but the process has dragged on longer than some observers had anticipated. Save for an eleventh-hour change of plan, the board is expected to move forward with that process beyond Tuesday.
When Nine chair Catherine West announced former CEO Mike Sneesby’s departure to staff in September, she said the company would conduct a global search for his successor.
