The rumour mill has been operating overtime about Macquarie CEO Adam Lang’s position with the talk network for many months. The surrounding noise has only intensified since the takeover of the company by Nine.
MML Chairman, Russell Tate, has confirmed that Adam Lang will leave Macquarie Media at the end of this week.
Today Russell Tate said “I have today agreed with Adam Lang, Macquarie Media’s CEO, that he will leave the company on October 25th.
“Adam and I have been in discussion for some time about his future opportunities within Macquarie which will undergo significant change in the next few months as our operations are integrated with those of Nine Entertainment Corporation. Nine is in the process of moving towards 100% ownership and control of Macquarie, and it is expected that the Role of Macquarie Media CEO will become redundant under the consequential organisation structure. Until that structure is finalised, I will assume responsibility for Executive matters which would otherwise be handled by the CEO.
“Adam has played a major role in the development of MML since its formation following he merger of Macquarie Radio Network and Fairfax Radio Network. Having previously led Fairfax Radio, Adam took on the role of COO of Macquarie Media from its inception and was promoted to CEO in April 2018.
“Adam and I have worked very closely together over the past 4 years and his passion for radio, his intelligence, his work ethic and his regard for our people, have all been outstanding features of his management and leadership during that time.
“On behalf of the Macquarie Media board and staff I want the thank Adam for the huge contribution he has made to our company and wish him every success in the next stage of his career.”
Mr Lang has been contacted for comment.
The axe wielding starting at the top - not unusual