Nine Entertainment CFO Paul Koppelman departs after 11 months

Nine CFO

“I have loved my time at Nine and it is a business I will continue to follow and enjoy from the outside.”

Nine Entertainment has announced that CFO Paul Koppelman has resigned for personal reasons including the recent death of a family member. The resignation is effective immediately. Graeme Cassells, currently group financial controller, will take on the role of acting CFO.

Paul Koppelman departs Nine after just 11 months in the role.

Chief executive Hugh Marks told Nine staff this morning Paul had asked him to share his reasons for departing with you saying: “My decision to stand down from my role at Nine is a deeply personal one and a time when I have had to put my family before my career. My wife suffered the loss of her much loved mother recently and she and my children need my total focus and love at this time, as we in Melbourne go back into severe COVID restrictions. These restrictions also meant I would be unable to attend results presentations and so the timing was made easier for us all.

“I have loved my time at Nine and it is a business I will continue to follow and enjoy from the outside, I wish Hugh and the team all the best and much success.”

Marks added: “We are sad to see Paul go but understand that he needs to put his family first. I want to take this opportunity to thank Paul for his contribution and support during his time with Nine and we have great confidence in Graeme stepping into the role as acting CFO.”

Nine will be releasing its FY20 result on 27 August. Subject to completion and auditing, at this stage, Nine is expecting to report Group EBITDA (pre Specific Items and post AASB16) in the range of $390m-$410m for its continuing businesses. Wholly owned net debt at 30 June, 2020 is expected to be c$300m.

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