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No hint Nine boss was to exit

A question on Hugh Marks private life was raised at Nine's AGM, but it was still a shock when he announced his departure yesterday.

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There was little sign of the bombshell resignation of Nine CEO Hugh Marks at the company’s annual AGM on Thursday.

Yesterday Marks surprised the market with his resignation after leading the company for five years, including through its acquisition of Fairfax newspapers and radio. He gave no reason for the move, in an email to staff.

“I have decided the time is right for me begin the process of moving on,” Marks said in an email to staff.

“An announcement to this effect will be made to the market on Monday and we will then commence a formal process for both internal and external candidates for my replacement. And of course, I will be around to ensure a smooth transition as the business embarks on its next stage of growth.”

It followed an interview with Nine-owned Sydney Morning Herald yesterday in which he acknowledged a recent relationship with Nine’s former managing director of commercial, Alexi Baker. Baker left the company last month.

At the AGM one shareholder asked Nine Chairman Peter Costello if Marks was involved with an employee following a News Corp article in which he was photographed with executive assistant, Jane Routledge.

“I saw the article, as a result of what was published and my own enquiries,” the Nine Chairman replied. “I don’t believe there is anything that has breached the company’s policies or its code. I don’t believe it warrants any further engagement.”

Meanwhile, in an unrelated question another shareholder asked if shows such as Love Island and Naked Castaway might be replaced with others featuring academic or religious learning?

Marks replied, “The program mix is something we give a lot of thought to, over time. Primarily, (we’re) focussed on the operating performance of our business which requires us to meet audience demand. We are in the business of understanding what audiences are currently wanting to consume,” he said, noting ACMA’s regulations and regular reviews the schedule.

Marks will remain with Nine as it transitions to a new CEO.

3 Responses

  1. David, is Hugh Marks leaving Nine for good or will he come back again in some way at Nine.??
    Because he has been the greatest TV businessman and CEO in a very long time. He has done wonders in improving so much the network and are now winning the Overall Ratings, job well done and they are now in a great position thanks to him.!
    I really hope he does come back??
    Cheers David..

  2. Perhaps Nine didn’t want to have to deal with the idea of a potential sex scandal of an Amber Harrison nature, where consensual relationships can go pear shaped and there’s hell to pay…
    Not suggesting anything like that in this case, but look how Seven mishandled the Harrision case, with attack dogs Jeff Kennett and Seven legal heavyweights pursuing her for misuse of company funds etc …
    All to protect a CEO who could do no wrong ( at the time )…a few years later he did the unspeakable and lost money for Kerry Stokes …only then was he shown the door at very short notice.
    This sends such a positive message to Seven’s shareholders and female workforce , doesn’t it ?

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