Nine Entertainment Co. Holdings Limited (ASX:NEC) fell almost 2% on November 16 2020, after Company’s chief executive Hugh Marks announced his exit via a message on Saturday.
However, Nine, in a statement, said that Marks will actively continue as group CEO.
Marks, on his retirement, said that currently half of the company’s earnings are being generated from the digital assets and when he was appointed, his briefing included transforming television business to a digitally based media company. Therefore, it is the right time for him to retire.
Meanwhile, prior to the ASX market pause, the NEC share was quoted at $2.400, down 1.64% at 02:35 PM AEDT.
While, the rival media group News Corporation (ASX:NWS) witnessed a ~3.88% rise and was quoted at $23.58 per share.