NZME chief financial officer Michael Boggs will take over as chief executive after Jane Hastings (pictured above centre) resigned from the news broadcasting and publishing company.
The company’s Australian owner, APN News & Media, which publishes the New Zealand Herald, says the change will take place on April 8. Ciaran Davis, chief executive at APN (picture above right), says, “Jane successfully led the strategy and merger of NZME, which had never been done before, to result in a fully integrated content and multi-platform media business. This places the business at the cutting edge in delivering media and entertainment content.”
Michael Boggs, new chief executive at NZME
While APN has stalled plans for an IPO for the NZME, the company has confidence in the new set up. Davis says, “The integrated content creation and sales proposition, offering clients multi-platform solutions and creating strong growth in new revenue streams, is delivering commercial success.”
Boggs says, “I am delighted to be continuing the positive momentum Jane has started in transforming NZME into an integrated media powerhouse. I look forward to working with NZME’s management team and staff, together with the APN Board, in realising NZME’s potential.”
Hastings, who worked for APN from 2012, says, “I am extremely proud of achieving the transformation goals set for NZME and I have complete confidence in the future of the business. I have worked with an incredible team of people at NZME who are all exceptionally talented and dedicated. I am also delighted to have a strong executive team and to be able to see the successor appointed from within the team will ensure the momentum continues.”
Last year, NZME reported a three 3 percent fall in revenue and an eight per cent decline in ebitda. APN says it will update shareholders further at its AGM in May.
