Michael Stephenson.
Michael Stephenson, formerly of Nine, is replacing Ciaran Davis as CEO at ARN Media.
“It is a great honour to lead ARN Media," said the current chief operating officer at ARN and former chief revenue officer at Nine.
"We have the biggest stars, the best brands, a global streaming platform and an incredible team.
"We have a bold vision for the future and are well positioned to take advantage of a range of new and emerging opportunities that will benefit our audience, our advertisers and our shareholders.
"I would like to congratulate Ciaran for his significant contribution to our business over 16 years. We will continue to work together closely over the coming months to ensure a smooth transition.”
Davis said it has been a privilege to lead ARN Media over the past 16 years, working alongside a talented and passionate team.
"With a clear transformation strategy in place and an excellent successor in Michael, I believe now is the right time to step aside.
"I want to sincerely thank the incredible people at ARN Media I’ve had the pleasure of working with, as well as the Board, our shareholders and clients for their ongoing support.”
ARN posted a 7% drop in revenue to $142.3 million for the six months to June in a "slow market" as the broadcaster cut costs and reported progress building a leaner, more agile organisation.
Growth of 21% in digital helped offset falls in metro (-12%) and regional (-5%).
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.