Right time and place for Fairfax’s Greg Hywood
In recent days, the Fairfax Media share price looked like it might hit the psychologically important point where it was once again worth more than a copy of the $1.50 Sydney Morning Herald.
On Friday the price crept up to $1.44 – well up on last months’ low of $1.35 when the company’s new strategy was announced by the now departed CEO Brian McCarthy. But by the end of today we were back down to $1.41.
The share market did not, it would seem, like the uncertainty created by putting in Greg Hywood as interim CEO while an executive search commences for McCarthy’s replacement.
And taking the temperature of the advertising market too, the appetite is not for a drawn out search.
the Anthony Catalano point is very interesting, back in the fold as MD of the Age would solve a bunch of problems in one hit…clever play by Greg.
Wonder if he’ll look at some of the divisions in Sydney quickly , particularly his beloved AFR…MG has had a long time to get it right…as has the editor, and the circulation director…circ. is performing poorly yet it’s the ad guy that cops it in the neck…odd…
One hopes this is an example of Hywood’s good manners, not his acumen:
“The Age is a great paper … very ably led by Don Churchill. All have the full support of the entire board – including me.”
(http://www.theaustralian.com.a.....5967072413)
Catalano? Seriously? (Edited by Mumbrella for legal reasons).
Not so inky?
Hey, Interested observer – who is ad guy at the AFR that “copped it in the neck”? Sounds like a big scalp has gone unreported???
Sorry have read for a couple of days…’twas Phil … loyalty unrewarded again it seems