Seven West Media chief executive James Warburton is leaving the troubled company more than two months earlier than expected.
“Current CEO and CEO James Warburton will terminate at SWM today… and Jeff Howard will begin the role on April 19,” the company announced to the ASX on Thursday.
Howard, the company’s chief financial officer, was announced as Warburton’s successor in December and was due to take over on June 30.
Seven West Media chief executive James Warburton is leaving the troubled company more than two months earlier than expected.
SWM Chairman Kerry Stokes and Howard thanked Warburton for his contribution to the business over many years.
The statement sent to ASX gave no reason why Warburton left the company earlier than expected.
Warburton is the second high-profile departure in recent weeks, with Spotlight boss Mark Llewellyn leaving the company last week, following a series of serious allegations about the show.
Lewellyn, the show’s executive producer, resigned as disturbing allegations, heard in Federal Court, mounted over how the network secured its interview with Bruce Lehrmann.
Taylor Auerbach, a former Spotlight senior producer who was Lehrmann’s “babysitter,” alleged in court papers that the couple used drugs and partied with sex workers, and Seven was charged more than $10,000.
Taylor Auerbach, a former Spotlight senior producer who was Lehrmann’s “babysitter,” alleged in court papers that the couple used drugs and partied with sex workers, and Seven was charged more than $10,000.
A secret recording of Llewellyn during a meeting with the show’s staff spoke of the pressure to “do whatever it took to get the story.”
Seven is also facing legal proceedings after its Sunrise program wrongly named Benjamin Cohen as the Bondi Junction attacker.
Cohen, who Seven incorrectly identified as the knife attacker on Sunday, has hired two of Australia’s leading defamation lawyers: Patrick George of Giles George as his lawyer and Sue Chrysanthou SC as counsel.
Seven issued an on-air apology to Cohen on Sunday, read by journalist Sarah Jane Bell during a crossover.
Last week, Nine Media reported that Seven had ordered two separate investigations into allegations that a small number of employees of its top-rated breakfast show, Sunrise, had committed fraud.
Warburton served as chief executive of Seven West for four years and had recently driven the company’s acquisition of long-term cricket and AFL television broadcast rights.
Seven West’s main business is television, but it also owns The West Australian newspaper and launched a new national news publication called The Nightly in February.
The company’s share price has plunged more than 22 percent so far this year for a market capitalization of about $315 million.
Shares rose in afternoon trading Thursday following the announcement of Mr. Warburton’s sudden departure.