Channel Ten Announces New CEO
Further Reading
Ten Network Holdings (ASX:TEN) have announced a New CEO. The incoming CEO will be its fifth CEO in 2 years.
- Former CEO James Warburton was sacked last week.
- Incoming Chief Executive Officer Hamish McLennan personally invested 3.13 million shares in the business or $1 million.
- Ten had a net loss of $4.2 million for the 2012 financial year.
- McLannan is an advertising executive and a special adviser to Rupert Murdoch and was responsible for Global Brand Partnerships at NewsCorp.
- Channel 10 is is currently behind in ratings behind Seven and Nine.
- Ten Network shares has fallen more than 60 percent in the last 6 months.
- In the interim before McLannan is installed, Russell Howcroft will act as chief executive.
- Ten chairman Lachlan Murdoch is the son of News Corp chairman Rupert Murdoch. Lachlan Murdoch is also a News Corp director.
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