Inside Media: Nine in turmoil as CEO Mike Sneesby leaves company after Paris Olympics scandal

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NINE CEO STEPS DOWN

Some big news over at Nine with CEO Mike Sneesby announcing he will step down within weeks.

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Rumours had been spreading for months he would finish up after the Olympics. Those rumours turned out to be true.

His tenure started in 2021 and since then Nine Entertainment has seen a decline in value of $3b.

Adding to his woes is news the independent report into bullying and sexual harassment within the TV unit will be handed down in October.

While Sneesby is not expected to be named in the report, the serious allegations about the culture at Nine came to light under his watch.

Nine CEO Mike Sneesby.Nine CEO Mike Sneesby.
Nine CEO Mike Sneesby. Credit: 7NEWS

It didn’t help that he reportedly signed off on a $1m golden handshake for former news boss Darren Wick, who is at the centre of those allegations.

Sneesby also faced criticism from employees in July when he took part in the Olympic torch relay. News of 85 redundancies in the publishing division led to strikes during the games and unions forcing a better pay deal for those employees staying with the company.

Peter Costello, one of Sneesby’s former supporters in the boardroom, was forced to step down as chairman in June after being filmed seemingly shoulder charging a video journalist.

While Sneesby is seen as “likeable” by many, I can reveal senior executives at Nine found his management style problematic.

His inability to make decisions was a constant source of frustration which led to missed opportunities.

In an email to staff, Sneebsy said “this year has been one of the most challenging in my career – one where our resilience has been tested. Despite the intensity of the scrutiny, my focus has not wavered from achieving the best outcomes for our people and for Nine.

Former Foxtel boss Amanda Laing is seen as the most likely successor.

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