Paul Koppelman, the CFO of Nine Entertainment, has resigned after less than a year in the role for personal reasons.
Nine says Graeme Cassells, currently group financial controller, will take on the role of acting CFO.
“My decision to stand down from my role at Nine is a deeply personal one and a time when I have had to put my family before my career," Koppelman said in an email distributed to staff by CEO Hugh Marks.
"My wife suffered the loss of her much loved mother recently and she and my children need my total focus and love at this time, as we in Melbourne go back into severe COVID restrictions.
"These restrictions also meant I would be unable to attend results presentations and so the timing was made easier for us all.
“I have loved my time at Nine and it is a business I will continue to follow and enjoy from the outside, I wish Hugh and the team all the best and much success.”
High Marks: "We are sad to see Paul go but understand that he needs to put his family first."
The company is due to release its full year results on August 27. "Preparation of the final year accounts is well progressed," says Nine.
Nine is expecting to report EBITDA (earnings before interest, taxes, depreciation, and amortisation) in the range of $390 million to $410 million for continuing businesses.
Net debt to the end of June is expected to be about $300 million.
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