Former Ten Network Chairman Nick Falloon will take over the chairmanship of Fairfax Media from Roger Corbett, when he steps down in August.
An announcement to the stock exchange today said:
Nick Falloon has had a life-time of experience in the media industry, including serving as the CFO and later CEO of Publishing and Broadcasting Ltd, which included ACP Magazines, Nine Network and Crown Casino.
He was also the Executive Chairman of Network Ten between 2002 and 2010, one of the most successful periods in the network’s history.
As previously announced, it is Roger Corbett’s intention to stand down as Chairman during his current term. Mr Corbett has indicated today it is his intention to stand down at the end of August following the signing of the full year accounts for the current trading year.
Nick Falloon will then assume the Chairmanship of Fairfax Media Limited.
Back when Nick was at PBL, they never let go of any of their good people. He then went to 10 and presided over the exit strategy for their large, international shareholder. I fail to see what is in his work history to reinvigorate Fairfax.
Nick Falloon does not seem to be the exec needed for this part of the cycle of the Fairfax business.