TEN sacks James Warburton as CEO
TEN has sacked James Warburton as CEO after less than 14 months in the role.
Russel Howcroft, who joined the company last month, will act as CEO until March 18.
Warburton has been dismissed after less than 14 months in the role. Warburton was appointed to the role, and dismissed, by TEN Chairman Lachlan Murdoch. But the appointment led to a much publicised legal case with his former employers, the Seven Network, and months of “gardening leave.”
But he already inherited a network plagued with problems, cost-cuts, management problems and a board of multi-billionaires.
Today Lachlan Murdoch, said: “The Board would like to thank James Warburton for his hard work and contribution during what has been a difficult period for the Company and for the broader media sector. He steps down with TEN’s best wishes.”
TEN has appointed Hamish McLennan, Executive Vice President, Office of the Chairman, News Corporation, and Chairman of REA Group Limited as both Chief Executive Officer and Managing Director of the Company. He has a salary of $1,975,000.
“The Board is delighted to have been able to attract a world class CEO with a strong track record to lead TEN,” said Murdoch.
McLennan added: “TEN is a media business with a strong balance sheet and excellent staff. I look forward to leading TEN through a period of creative renewal and financial growth.”
The news comes just a day after former sales boss Mike Morrison said that the public no longer trusted TEN, but a spokesperson branded his comments, “absolute nonsense.”
This post updates.