There is set to be a changing of the guard at Seven West Media (SWM), with chief financial officer Jeff Howard to succeed James Warburton as managing director and CEO at the end of the current financial year.
Warburton has spent the past four years in the top job, having previously worked at the network between 2003 and 2011 before leaving to join Channel 10.
During his time in charge, he oversaw a restructuring of the business, as well as the acquisition of Prime Media.
In a statement, Warburton said it was time for the company to take the next step.
“I take great pride in the transformation of SWM in recent years and its position as the leader in total TV in both ratings and revenue,” he said.
“A significant improvement in the balance sheet and digital earnings, underpinned by long-term AFL and cricket TV and streaming rights, and the acquisition of Prime have given the company a very strong future. I’ve now spent more than 15 years of my professional life working for Seven (in two stints) and I’d like to thank Kerry and Ryan Stokes, the other Directors and our major shareholders for the wonderful opportunity and their support.”
Howard, who has worked as the company’s CFO since January 2020, said Warburton was leaving SWM in a strong position to take advantage of the opportunities that lay ahead.
“As we look to the next phase of growth in an ever-changing industry, our focus is on continuing to create great content to be the most connected news, sport, and entertainment brand in Australia, while driving value for shareholders,” he said.
“Our strategy of premium audience generation and engagement across all of SWM’s platforms will remain at the forefront of everything we do.”
SWM chairman Kerry Stokes thanked Warburton for his “energy, enthusiasm and outstanding contribution”, while also welcoming Howard, who he said was well-placed to continue the company’s momentum.
“Jeff has an immense depth of experience and exposure across the broad media industry and the right balance of skills to deal with a dynamic and evolving media landscape,” he said.
“His commercial knowledge, passion, and commitment will ensure a strong performance focus at this critical time of change and innovation for the industry.”
The transition will be effective on or before June 30, 2024. SWM has commenced the search for a new chief financial officer.