Nine CEO Hugh Marks resigns

Nine Chief Executive Officer Hugh Marks has resigned after five years in charge.

Mr Marks, who oversaw Nine's merger with Fairfax in 2018, said he would be making the announcement to the market on Monday, and the formal process of replacing him would commence shortly after.

"After five successful years for Nine, I have decided the time is right for me begin the process of moving on," he wrote in an email to staff sent on Saturday afternoon.

In his message he thanked staff across television, radio, and print for their work, particularly during the coronavirus pandemic.

"We have gone from being three separate, legacy media businesses in Nine, Fairfax Media and Macquarie Media, each with their own structural challenges, and created a business that now has a diversified revenue base across both advertising and subscription, and that has a clear growth strategy for decades to come," Mr Marks wrote.

Mr Marks' exit follows the Nine AGM on Thursday and an announcement last week of the creation of Stan Sport, which had secured broadcast deals with rugby union, Wimbledon and Roland Garros for launch.

Mr Marks has been CEO since November 2015, and before that had been an independent, Non-Executive Director since February 2013.

Before joining the board Mr Marks was an authority member of the Australian Communications and Media Authority for more than two years. Previously he was CEO of the Southern Star Group.

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