Nine Entertainment Co chief operating officer and finance director Pat O'Sullivan has stepped down, replaced by Simon Kelly, CFO and director of gaming machine manufacturer Aristocrat Leisure.
O'Sullivan's resignation comes after six years with the company. He said he was planning on taking an indefinite break from corporate executive management to spend more time with his family and his other interests.
O'Sullivan said: “I have thoroughly enjoyed my time at NEC and in particular I will miss working with David Gyngell and the great team across the whole NEC business. They continue to work incredibly hard in a very challenging environment and I am very confident that NEC will have a new and sustainable capital structure over the coming months which will allow the business to successfully grow into the future.”
NEC CEO David Gyngell appointed Kelly to take on the role of COO and finance director, which he will begin in April.
Gyngell said: “Simon has held a number of senior operational and finance roles across a diverse range of industry sectors and I am confident he will add significant value to the NEC business. We all look forward to his arrival at NEC.”
The appointment follows a commitment by Gyngell at the end of 2011 to strengthen NEC by investing $120 million into new programming and business ventures.
Gyngell commented: "What I will commit to you is that in every part of our business next year there is $120 million worth of investment in our sales structures, in our group teams working together, in launching magazines, in Mi9, and all those programmes. That's the best bunch of programmes Channel 9 has ever had.”
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