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Nine Entertainment Co chairman and former treasurer Peter Costello has resigned from his post and stepped down from the company’s board.
Costello, who was appointed in 2016, will be succeeded by current Deputy Chair Catherine West.
In an email to all staff on Sunday afternoon, chief executive Mike Sneasby said the board wanted to thank Costello for his contribution to Nine over more than a decade, including eight years as chairman.
“Mr Costello played a key role in Nine milestones such as the successful re-listing on the Australian Stock Exchange in 2013, securing the landmark News Media Bargaining Code and the transformative merger with Fairfax Media,” Sneesby said.
Costello thanked the board for their support over the past decade and especially during the events of the past few weeks.
“I wish the board, the employees and the company well,” he said.
“There are huge challenges ahead, but I believe Nine is the best-positioned Australian media company to meet them and prosper.”
Costello was Treasurer of the Australian Union from March 1996 to December 2007 and was the longest serving Treasurer in Australian history.
Last week Costello denied assaulting a journalist who asked him questions at Canberra airport about Nine’s handling of the allegations following the departure of TV news chief Darren Wick.
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