ARN to appoint former Nine exec Michael Stephenson as next CEO
Make us a preferred source
Make us a preferred source on Google
The news: ARN Media has appointed Michael Stephenson, who joined the radio company from Nine Entertainment last year, as the company’s next CEO.
The context: The company home to the controversial Kyle and Jackie O Show announced the succession plans after ARN chief executive Ciaran Davis informed the board that he intended to step down from his role on 15 January next year.
Davis will step down from the board as managing director today, the company said.
The change will bring to an end a 15-year leadership run for Davis at ARN, where he has spent more than a decade as CEO and managing director. Shares in ARN have sunk more than 75% over the last 10 years to $0.54 at Wednesday’s close.
Stephenson departed Nine following nearly a decade as the company’s chief sales officer, which saw him responsible for the company’s advertising in TV, publishing and audio. He joined ARN as chief operating officer.
What they said: "On behalf of the board, I would like to thank Ciaran for his outstanding leadership and commitment,” ARN chairman Hamish McLennan said in a statement.
“Under his stewardship, ARN Media has navigated a rapidly changing media landscape and kept the company at the forefront of innovation. We are grateful for his vision and dedication.
“We are also confident that our strong succession planning ensures continuity for the business. Michael brings deep experience and understanding of our strategy and operations, as well as the broader media industry, making him the ideal candidate to drive the company forward through its next phase.”
The source: ASX announcement
