Seven West Media CEO may not hold position long-term

By Duncan Craig | 27 September 2012
Source: Wikimedia Commons.

Seven West Media chief executive Don Voelte has added the post of chairman of resources company Nexus Energy to his resume, fuelling speculation his tenure at the media company will not be long-term.

Voelte will take on the position of non-executive chairman at Nexus next month. The oil and gas industry veteran has already stated that he leaves day-to-day operations of Seven West to the company's leadership team.

The Australian Financial Review reported today that Voelte's role at Nexus would re-unite him with a former colleague of his at Woodside Petroleum, Lucio Della Martina.

Voelte was CEO of Woodside, and Martina is now CEO of Nexus.

The newspaper also said Seven West Media can terminate Voelte's contract with only one months notice.

In a statement, Voelte said he was looking forward to realising the financial potential of Nexus Energy.

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