AFR’s Michael Stutchbury steps down after 13 years
The Australian Financial Review’s long-time editor-in-chief Michael Stutchbury has announced he will step down from leading the publication next month.
He was the longest serving editor or editor-in-chief in the Nine masthead’s 73-year history, and along with his previous five-and-a-half years as The Australian’s editor, he is the country’s longest serving national newspaper editor or editor-in-chief.
Stutchbury plans to take a break, and return to the AFR later this year in a writing role, as editor-at-large.
Describing his time as editor-in-chief as a “privilege”, Stutchbury thanked the team of reports, photographers, artists, designers and editors at the AFR, whom he said the masthead’s success wouldn’t be possible without.
“After facing a potential loss just over a decade ago, the Financial Review has never been more profitable as it has built a business model around premium digital subscriptions,” he said.
“As the team has managed the shift out of print, the masthead has never had more paying subscribers. It has doubled its audience share compared to its national rival. It has been judged Australia’s most-trusted newspaper brand.
“This fundamentally rests on the Financial Review’s high-quality journalism that has never won more plaudits and awards than in the past year. This has been led by the story of 2023, the PwC tax leaks scandal, that is now being capped by the story of this year, the CFMEU investigation.”
While the decision to walk away was not an easy one, Stutchbury said it is time for someone with “fresh energy and new ideas” to lead the masthead’s next phase of growth.
James Chessell, the former MD of publishing for Nine, and executive editor of The Sydney Morning Herald and The Age, has been named as his successor.
“As a Walkley award-winning former Europe correspondent and Business editor for the Financial Review, James Chessell is the ideal person to take on this exciting challenge,” Stutchbury said.
“The Financial Review is his natural home.”
Tory Maguire, managing director of Nine Publishing, said Stutchbury deserves “enormous credit” for growing the Nine masthead, and leaving it in a powerful position as a leading Australian publication.
“Michael Stutchbury’s legacy at the AFR is immense, having led the newsroom through a period of ever-accelerating change in the way audiences consume and pay for journalism. He did this by ensuring the AFR is essential reading for anyone with an interest in corporate life, finance and politics,” Maguire said.
“Stutch’s fierce belief in what the AFR should be – high quality, relevant, fair and energetic – drove his approach to pushing the masthead to its full potential, including the development of the Financial Review’s highly successful Ventures events business. He is a giant of Australian journalism.”
She described Chessell as “energetic, talented and determined”, and said he is the perfect person to continue the AFR’s growth trajectory.
“Having worked for James for more than five years while he was both executive editor and managing director I know him to be the most energetic, talented and determined person to take the AFR on the next phase of its growth. He understands audiences and believes in storytelling of the highest standard,” she explained.
“He also has the best contact book of any journalist in business, which is essential for the editor-in-chief, and his love of being in a newsroom is boundless. The publishing team is incredibly lucky James is willing to return to Nine and lead the AFR.”
Chessell said he is thrilled to be taking on the role, and he thanked Stutchbury for his incredible efforts.
“I’m very excited about taking over from Stutch who is the best editor I’ve worked for bar none,” he said.
“He made the Financial Review sharper and smarter than at any other time in its 73-year history and I’m delighted he will be writing for the masthead for many years to come.
“The AFR has done an outstanding job exposing corporate and political profligacy under Stutch without forgetting its mission to champion authentic innovation, entrepreneurism and success.
“I’m also very excited to be reunited with Tory and the Nine Publishing team, who are the best in the business. I’m incredibly lucky to be stewarding a masthead in such great shape but there is still plenty of work to do and I can’t wait to get started,” Chessell concluded.
Stutchbury’s last day will be August 9, and Chessell will start on August 12.
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Lauren McNamara is the associate editor at Mumbrella, covering the agency beat. She joined in November 2022 as editorial assistant, after completing a Bachelor of Communications (Journalism) at UTS.
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Chessell is a wonderful appointment, outstanding people skills
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