Ten Network Holdings executive chairman Nick Falloon is to leave the company immediately after its annual general meeting in December.
The company confirmed Falloon's departure in a statement late yesterday and said further discussions had been held since Monday 1 November with James Packer and Lachlan Murdoch about their requests for board positions.
It said discussions are continuing but no agreement with Packer and Murdoch has yet been reached, following Ten Holdings' offer of two directorships.
Packer has requested three seats on the board, but the board is remaining steadfast in its offer of two seats.
"The board maintains that the number of directorships offered is appropriate having regard to the size of the shareholding interest currently held by CPH. In the Board’s view, this level of representation would be consistent with the interests of all shareholders," Ten said in a statement.
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