Seven West Media has promoted Seven network boss Tim Worner to the head of the group with Don Voelte stepping down less than a year into the role. He will start on 1 July on a $2.6 million basic pay deal.
The firm made the announcement to the ASX this morning and will hold a press conference at 11am.
Chairman Kerry Stokes said it had always been clear that Voelte was a short term appointment and underlined his "outstanding contribution" as an agent of change.
“Don has always been quite clear that his management role at Seven West Media was only for the short-term and that his job was to put in place the structures and people that allowed the company to meet the challenges of the future. He was honest. He was right on his timings. He has delivered. Don is an outstanding business executive and on behalf of the board, our people, and our shareholders, I thank him. Don will remain closely involved with Seven West Media and I look forward to his continuing role with the company.”
Voelte will have a continuing involvement with Seven West Media as a director on the board of the company and has accepted the role of non-executive deputy chairman. He backed Worner to deliver.
"Over the past twelve months, our management and all of our people have stepped up to the plate in a difficult market. We have made tremendous progress. We have the best brands and people in the media," said Voelte. "I know in Tim, we have the right man to lead Seven West Media.”
Worner began his career with Seven as a journalist in Perth. He has been CEO for broadcast television at the firm since 2011 and is under no illusion of the challenges ahead for media businesses.
“This is an exciting time for these businesses. There is no question we are undergoing rapid change in our marketplace and it is clear we must respond to the change. But we will do it knowing that these businesses are driven by passion and by people who really care about what they create each day. To be able to work even more closely with the best brands and the best people in their respective fields is a privilege.
"It's a role I am both humbled and thrilled to take on.”
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