TEN board dumps CEO Grant Blackley
Breaking News: The board of Ten Network Holdings has dismissed Chief Executive Officer Grant Blackley and Lachlan Murdoch has accepted the role of acting CEO.
The board of Ten Network Holdings has given notice to Grant Blackley as its Chief Executive Officer and announced that Lachlan Murdoch will become its acting CEO whilst searching for a replacement.
TEN Network Holdings includes Network TEN, Eye Corp Pty Limited and other companies.
Blackley had only been in the top Board job since mid-December, after replacing Nick Falloon. He was also CEO of Network TEN.
Chairman Brian Long said: “The Board continues to be responsible for all decisions regarding the strategic direction of the Company, and has decided to conduct an immediate strategic review of the Company’s operations.
“I would like to thank Grant Blackley for his contribution to the Company over some 20 years. The Board would also like to thank Lachlan Murdoch for agreeing to accept an interim role at the Board’s request.”
There are media reports Bruce Gordon, who owns 14 per cent of TEN, and James Packer, who owns 9 per cent, backed Murdoch.
In recent weeks there has been some questioning of TEN’s new on-air strategy including from shareholders.
Despite the network pitching its 6-7pm news overhaul as a long-term vision has so far failed to attract a significant following.
This post updates.