Southern Cross Media Group Limited (SCA) has announced Toby Potter as its new chief financial officer and a member of the senior leadership team.
The appointment was disclosed to the market ahead of SCA’s half-year results presentation on Thursday morning.
Potter, who stepped in as acting CFO in December 2024, has been responsible for overseeing the company’s financial stewardship over recent months.
His prior experience at SCA spans over a decade in positions such as head of commercial finance and head of business transformation, where he successfully led several business optimisation initiatives.
SCA CEO John Kelly said: “I am delighted to confirm Toby’s appointment as CFO. His deep sector experience, commercial acumen and strong relationships provide a compelling skill set that will play a key role in assisting me and our broader business.”
The company says Potter’s further supplements Sarah Tinsley’s appointment as chief legal officer and company secretary. Both executives will join SCA’s executive team, reporting to John Kelly.
The appointment comes off the back of the company’s decision to roll-out further cost-cutting measures, including redundancies, as the media company continues to navigate challenging economic conditions.
John Kelly SCA
In an internal email sent to all employees last week, Kelly acknowledged the structural challenges facing the Australian media industry and the need for SCA to operate more efficiently to remain competitive. He noted that despite recent improvements in performance and reductions in operating costs, further cuts were necessary to sustain momentum and position the business for long-term growth.
“To maintain this momentum and further position the business for sustainable growth, it is essential that we now reduce our cost base wherever possible,” Kelly wrote to staff. “Accordingly, we are required to make further cost reductions across areas such as discretionary spend, programming, corporate overheads, and regrettably, our workforce.”
The CEO confirmed that affected staff had already been contacted and expressed his regret over the impact of the decision. “That said, this is the most difficult part of my job and of our leaders, and my thoughts are with those impacted today,” he said.
Pictured: Toby Potter