Staff at Macquarie Media today received an email from executive chairman Russell Tate that CEO Adam Lang will depart the company at the end of this week – October 25.
Tate told staff he had been in discussion with Lang for some time regarding his future.
Tate added there will be “significant change” ahead as the operations of the Macquarie Media radio group are integrated with those of Nine.
The email was also posted on the ASX and Tate added:
“Nine, as you are aware, is in the process of moving towards 100% ownership and control of Macquarie, and it is expected that the role of Macquarie Media CEO will become redundant under the consequential organisation structure. Until that structure is finalised I will assume responsibility for matters which would otherwise be handled by the CEO.
“Adam has played a major role in the development of Macquarie Media Limited since its formation following the 2015 merger of Macquarie Radio Network and Fairfax Radio Network. Having previously led Fairfax Radio, Adam took on the role of COO of Macquarie Media from its inception, and was promoted to CEO in April 2018.
“Adam and I have worked very closely together over the last 4 years and his passion for radio, his intelligence, his work ethic and his regard for our people, have all been outstanding features of his management and leadership during that time.”
Adam Lang was the chairman of Commercial Radio Australia until the end of last year. Lang was still on the board and attended a board meeting in Brisbane at the end of last week ahead of the annual Radio Alive conference and the ACRAs.
Tate finished with: “On behalf of the Macquarie Media board and staff I want to thank Adam for the huge contribution he has made to our company, and wish him every success in the next stage of his career.”
Lang had recently taken legal action against The Daily Telegraph after a series of articles made claims about his management style.