In 2022, Mr. Stanton became the chief strategy officer at Nine after working with companies like Barambah Organics, Woolworths, and Bauer Media across various industries including retail, food and beverages, and media.
He has been recognized for revamping Nine’s operational framework, rejuvenating the leadership group, and speeding up strategic and cultural improvement initiatives within the organization.
Mr Stanton mentioned that he has been encouraged by the widespread support from employees throughout the company as Nine moves forward with its strategies to revitalize and expand the business.
"I remain dedicated to continually evolving and reinforcing Nine for the benefit of all stakeholders and our team," he stated.
The Nine Entertainment Co. Holdings board named the ex-commercial CEO to these positions temporarily while conducting a global hunt for a permanent fit.
Chair Catherine West stated that Mr Stanton had performed exceptionally well in his role as acting chief executive, and the board was thrilled with their decision.
"After an extensive and rigorous selection procedure, Matt emerged as the most qualified leader to sustain the progress of our strategic and cultural transformation," she stated.
Combining his sharp strategic thinking, commercial insights, expertise in transformation and media, solid ethical standards, along with his inclusive and cooperative leadership style, Matt is well-suited to guide Nine.
After crafting the group strategy, Matt has gained profound insight into Nine’s objectives, ethos, and personnel. He has consequently secured the admiration of top leadership, the wider staff, the industry, as well as the board.
Mr Stanton assumed the role of acting CEO from Nine’s previous head, Mike Sneesby, after a tumultuous year for the organization.
A workplace assessment conducted externally regarding the atmosphere within Nine’s newsrooms resulted in 22 recommendations as part of a critical report which highlighted "alarming instances of improper conduct in the workplace at Nine."
In July, the firm reduced its workforce by 200 employees following Meta's decision to cancel the $100 million it had planned to pay collective Australian media organizations for their content.
As stated in their interim financials disclosed earlier this month, the firm intends to carry out further restructuring as part of an ongoing "strategic and cultural overhaul."
Cost reduction measures, such as layoffs, yielded $35 million in efficiencies for the December semester. Nine stated that they would surpass their earlier objective of achieving $50 million in cost savings for the fiscal year.
The firm reported a semi-annual net income of $95 million with revenues increasing by 1 percent to reach $1.41 billion.
