Nine (ASX:NEC) Shares Drop After Chief Executive Hugh Marks Resigns

November 16, 2020 03:41 PM AEDT
Kunal Sawhney

CEO Kunal Sawhney
2781 Posts
Kunal Sawhney is founder & CEO at Kalkine and is a richly experienced and accomplished financial professional with a wealth of knowledge in the Australian Equities Market. Kunal obtained a Master of Business Administration degree from University of T...

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.

Tags:

Nine

Disclaimer

The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.