oOh!media has announced Managing Director and Chief Executive Officer, Cathy O’Connor, will step down in the second half of 2025.
After leading the company for more than four years, O’Connor and the Board have agreed that with the company performing strongly, it is the right time to hand over to new leadership for the next phase of growth.
O’Connor said: “Leading oOh! for the past four years has been one of the most rewarding periods of my career, and I am incredibly proud of the team’s achievements, including the unrivalled success in attracting new asset contracts which underpin our future growth and the industry-leading margins we delivered in an inflationary environment.
“The Company now has real momentum, and a depth and breadth of new talent, to chart the course for continued growth. Having discussed with the Board the next multi-year phase of execution ahead of oOh!, we have agreed that the Company is now ready for new leadership.”
The ASX announcement, released this morning, says the decision follows a period of improvement for oOh!media.
In the second half of 2024, the company’s performance strengthened, and this momentum has continued into early 2025. In the first quarter of 2025, oOh!media reported a 13% rise in total revenue and a 16% increase in Australian media revenue, matching the growth rates of the broader outdoor advertising industry, as tracked by the Outdoor Media Association (OMA).
Business as usual
The company expects the second quarter of 2025 to show similar results to the first, thanks to focused efforts to boost revenue and win market share. oOh!media also expects to continue improving its position throughout the rest of 2025, helped by new advertising sites secured through contracts announced in 2023 and 2024.
Reflecting on the company’s future, O’Connor added: “oOh! has developed one of the strongest teams in Australian media, including a leadership group that is among the industry’s most experienced, and I thank the team for their commitment and hard work.
“I strongly believe in the future growth and growing prominence of the Out of Home industry and that oOh! has the right strategy to lead this evolution and generate long-term value for our customers, our people and our shareholders. I remain absolutely focused on the execution of oOh!’s strategy.”
Of O’Connor’s departure, oOh! Chair, Tony Faure, said: “After more than four years leading oOh!, and with the business performing strongly in CY25, Cathy has decided, and the Board has agreed, that the time is right for new leadership to deliver the Company’s next multi-year phase of strategy execution and growth.
“Cathy joined oOh! as CEO in the middle of the COVID pandemic and has been instrumental in leading the business through a period of significant change. She led oOh! through its most successful period of major contract wins, while implementing a disciplined commercial mindset and setting the platform for oOh!’s ongoing digital evolution.
“The Board remains highly confident in the Company’s strategy, focused on energising oOh!’s sales and go-to-market approach, unlocking the full potential of our market leading network of 35,000 assets, and positioning the business to lead in the retail media segment.
“The Board thanks Cathy for her leadership of oOh! through a transformative period. We are delighted that she will remain with the Company until the second half of CY25 to facilitate an orderly transition.”
The Board has commenced a process with a leading global executive search firm to appoint a new Managing Director and CEO, with the process overseen by Faure, and Chair of the Talent & Culture Committee, Philippa Kelly.