NZME CEO Jane Hastings resigns

  • 09/03/2016

By Fiona Rotherham

News publisher and broadcaster NZME's chief executive Jane Hastings has resigned to "pursue other opportunities" after 18 months in the role.

NZME's owner APN, the publisher of the New Zealand Herald newspaper and operator of The Radio Network, said Ms Hastings will be replaced by the current NZME chief financial officer Michael Boggs on April 8.

Ms Hastings has worked for APN since May 2012 and was formerly chief executive of The Radio Network before taking on running the company's New Zealand publishing, radio, and digital businesses.

APN chief executive Ciaran Davis said Ms Hastings had transformed the business into an "audience-centric, content-driven media and entertainment business".

Ms Hastings said while it was a difficult decision to resign, she thought it was time to pursue other opportunities

APN shelved plans last month for a long-touted initial public offering of NZME due to a weak advertising market while at the same time putting its Australia regional newspapers up for sale. Plans to institute paywalled access to its free news sites appeared also to have been shelved earlier.

The Australian company reported a loss of $A10.2 million ($NZ11.21 million) in 2015, including a $A48.3m charge against the Australia regional papers' mastheads.

NZME posted a 3 percent decline in revenue to $433m and an 8 percent drop in earnings before interest, tax, depreciation and amortisation to $74.9m.