Lachlan Murdoch elected as TEN’s new Chairman

After much speculation Ten Network Holdings Limited has today announced that former interim-CEO and current TEN shareholderLachlan Murdoch has been elected as the company’sChairman. This move means that TEN’s existing Chairman Brian Long will become Deputy Chairman and Lead Independent Director.

In TEN’s press releaseBrian Long said:

The Board is pleased that Lachlan has agreed to accept the role of Non-Executive Chairman. His extensive media experience will provide TEN with invaluable strategic leadership. As Interim CEO he reset TENs strategic vision and cost base and was instrumental in recruiting TENs new Chief Executive Officer, James Warburton.

Mr Murdoch, speaking of today’s announcement, said:

I look forward to working with the Board and our new CEO to re-shape TEN and to improve its performance for the benefit of all shareholders.

It was also announced that new CEO James Warburton has joined the TEN Board as its Managing Director.

TEN shares this morning were trading at $0.89 per share.

Sources:

TEN APPOINTS NEW CHAIRMAN

ASX

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