oOh!media CEO Cathy O’Connor is stepping down after more than four years leading the outdoor media company.
She said the time had been one of the most rewarding periods of her career.
"I am incredibly proud of the team’s achievements, including the unrivalled success in attracting new asset contracts which underpin our future growth and the industry leading margins we delivered in an inflationary environment," she said.
"The company now has real momentum, and a depth and breadth of new talent, to chart the course for continued growth."
The company has started looking for new CEO via a leading global executive search firm.
O’Connor, who joined the company during the pandemic, plans to depart in the second half of the year.
“oOh! has developed one of the strongest teams in Australian media, including a leadership group that is among the industry’s most experienced, and I thank the team for their commitment and hard work," she said.
"I strongly believe in the future growth and growing prominence of the OOH industry and that oOh! has the right strategy to lead this evolution and generate long-term value for our customers, our people and our shareholders, and I remain absolutely focused on the execution of oOh!’s strategy.”
oOh! chair Tony Faure said the business is performing strongly.
“Cathy joined oOh! as CEO in the middle of the COVID pandemic and has been instrumental in leading the business through a period of significant change," he said.
"She led oOh! through its most successful period of major contract wins, while implementing a disciplined commercial mindset and setting the platform for oOh!’s ongoing digital evolution.
“The board remains highly confident in the company’s strategy, focused on energising oOh!’s sales and go-to-market approach, unlocking the full potential of our market leading network of 35,000 assets, and positioning the business to lead in the retail media segment.
“The board thanks Cathy for her leadership of oOh! through a transformative period. We are delighted that she will remain with the company until the second half of CY25 to facilitate an orderly transition.”
oOh!media posted flat revenue for the year to December but reported better pacing in the first quarter.
Revenue was up 0.3% to $635.63 million and profit was 5.7% higher at $36.577 million in the 12 months.
March quarter media revenue was pacing 14% ahead on the same three months last year.
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