Eddie quits as 9 CEO

Eddie McGuire is stepping down as Chief Executive Officer of the Nine Network.

After months of rumours McGuire has confirmed his decision today.

In a radio interview this morning McGuire chatted like a footy coach, using his trademark upbeat “she’ll be right” style, Eddie reflected on his decision. He made the following points:

“My best contribution to the network is in the creative process.” He said he was asked to stay on as CEO.

“A couple of weeks after I stepped in, the company was set up for sale.

We’ve got ourselves set for the next 12 months, shows like Sea PatrolI hope that will be my legacy.”

He said in changing roles he could “add more” to the network, acknowledging new opportunities that have been put before him.

“I am disappointed in some ways. But I am very much up on my toes and excited about my future.”

McGuire said he would be taking a well-earned break.

“I probably should have had a holiday before taking up the CEO role.

“I do enjoy the on air stuff. I enjoy the comraderie, putting teams together.”

He denied any conflict with other Nine and PBL Executives saying the CEO role was, “far more about financial and mechanics in recent times. It isn’t exactly what I wanted to do.

“We all had to be involved ‘cos we were selling the business.”

“Maybe I’m a better President than CEO. In control of my own destiny.”

McGuire also confirmed he would be going to LA for the US acquisitions screenings.

He denied there would be any Melbourne management role following the resignation of Gary Pert last week, or a return to The Footy Show.

McGuire indicated there would be new programmes and opportunities. “More changes coming, more things will become apparent.

“There’s lots of things I want to do,” he said. “There’s other shows to be done.”

When asked when a decision was made, Eddie said it had, “been building in my mind for a period.” In quitting the role he confirmed that he “got myself a payrise.”

And a move back to Melbourne? “Eventually yeah, but not immediately.”

Finally when asked if he would ever return to a management position, McGuire said:

“Never say never.”

– Eddie McGuire quotes via Radio 3AW.

Press Release:

FRIDAY 18 MAY 2007
EDDIE MCGUIRE CHANGES ROLE AT NINE NETWORK AUSTRALIA
Eddie McGuire, AM, the Chief Executive Officer of the Nine Network Australia today announced that he would move from his Chief Executive role at the Network to an increased presence on air and the provision of creative and programming services. Mr McGuire said the change in role would take effect from June 30, 2007.

“The Network is well positioned for growth,” said Mr McGuire. “There has been significant restructuring and Nine is on track for an improved profit in 2006/07. The Network will also benefit in 2007/08 from increased investment in local programming and I am confident that the Network is in a strong position.”

Mr McGuire said he had greatly enjoyed the executive role but said: “I am of the view that my best contribution to Nine is in the creative elements of the business and that has prompted this change.”

“I am looking forward to the change in role and to continue working with the executive team at Nine. I have made a commitment for the next 5 years and we have a clear mandate to produce the best local content in Australia.”

Ian Law, the Chief Executive Officer of PBL Media Pty Limited said that Nine had benefited greatly from Mr McGuire’s expertise.

Mr Law said: “Mr McGuire will continue as a key member of the executive team of Nine, and will work closely with the Director of Programming on concepts and ideas for new shows.”

“During Mr McGuire’s tenure as CEO the company has gone through significant structural changes and in that time Nine has been able to out perform the financial benchmarks set. This is a great achievement given the circumstances of the past 12 months.

“It has become clear over the past 12 months that Mr. McGuire’s absence from on air as a key host has impacted on the ratings of the Network.

“The performance of 1 v 100 in addition to his executive duties shows how significant Eddie’s contribution can be to our on air line up.”

Mr Law said the change in role of Mr McGuire would bring some changes to the management structure at Nine.

“We are not proposing to directly replace the role of CEO of Nine. The existing Nine Network management team headed up by Jeffrey Browne (Executive Director) will take the Network forward.

“The new management structure at Nine will also continue the process of integrating all the media properties in PBL Media Pty Limited including the Nine Network Australia, ACP Magazines, and our interests in ninemsn, carsales and myhome.com.au.

“We are committed to using our various media platforms to add value to advertisers, viewers and readers,” Mr Law said.