Just two days after confronting Nine Entertainment Co’s general assembly, CEO Hugh Marks stepped down and quit.
“After five successful years for Nine, I decided it was time for me to start the process moving forward,” Marx said in a note to all employees sent on Saturday afternoon.. The resignation comes after an urgent board meeting on Saturday. It also comes after details of his private life were revealed in the company’s Sydney Morning Herald on Saturday. There is speculation in more detail about Marx and his ties will be detailed in the Sunday Telegraph this weekend.
Also see: Relationship with Marx by Andrew Hornery Five years after he was appointed CEO of the media giant Nine Entertainment, the owner of this Masthead ad, Hugh Marx remains amazed at why « anyone cares about my personal life ».
Marx indicated that he would remain in the ninth division to ensure a « smooth transition » to the new leader.
In his memo to employees, Marx said: “We went from being three separate legacy media companies at Nine, Fairfax Media and Macquarie Media, each with their own structural challenges, and created a company that now has a diversified revenue base across both ads and subscriptions, And it has a clear growth strategy for decades to come.
“We’ve shown the importance of great content, whether it’s in the powerful and unique press we create every day, across all platforms, or in entertainment, where the shows we build become household names and engage Australians by the millions. Because at the end of the day we’re, and will remain, a content company.
“COVID-19 has also shown how stronger we are together. Now clearly, Nine’s assets across TV, Radio, Print and Digital are a unique offering together for advertisers, but also for Nine, as we grow strong subscriber businesses, like Stan and our Mastheads, both at record subscription levels..
“I let I know Nine has an incredibly strong management team that steers her in all of her business. And of course, passion, drive and commitment are deep through all of our employees.
Nine Network, Hugh John Marks, Nine Entertainment Co. , Fairfax Media, CEO
World News – African Union – Hugh Marx resigns from the position of the nine chairman of the Board of Directors as speculation revolves around private life
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