Network Ten CEO quits: ‘Hardest decision of my life’
NETWORK Ten boss Paul Anderson has described quitting as chief executive officer and executive vice president of operations in Australia and New Zealand as "difficult" and the "hardest decision" of his life.
ViacomCBS Networks International (VCNI) today announced Mr Anderson's resignation, which is effective immediately.
However, the Network Ten employee of 17 years has "agreed to stay in his role in the interim to help oversee the company's transition to new management".
In a statement to all staff at 9.31am - two minutes before a general release was issued - Mr Anderson said he knew "it will take many of you by surprise - it's the hardest decision of my life."
"I have spent a lot of time trying to work out what is best for me personally and professionally," he said.
"After almost 17 years at 10, a lot of soul searching, and talking it through with my family, I feel that it's time for me to start on something new."
Anderson went on to thank all the staff who have supported him, too many to name individually, and declare "television is a tough business".
"When I 'actually' leave hasn't been determined yet - I have agreed to be part of the transition arrangements which we will explain to you all shortly. When that time comes, I will look forward to saying farewell to many of you in person," he said.
Mr Anderson's announcement comes just months after US parent company CBS and Viacom officially merged to become a single company after separating in January 2006.
ViacomCBS will not directly replace Mr Anderson, who recently took over as executive vice president of ViacomCBS's operations in Australia and New Zealand, but has confirmed it will instead introduce a new management structure for its combined operations in Australia and New Zealand, which will report to VCNI operations president Maria Kyriacou.
HUGE NEWS: Paul Anderson resigns from new Ten/ViacomCBS role. Replaced at least for now by Bev McGarvey. pic.twitter.com/oY4bBfZ6h4— The Guidefather 👍🇦🇺📺 (@SteveMolk) March 10, 2020
Beverley McGarvey, who is currently Network Ten's chief content officer, has been promoted to become chief content officer and executive vice president across combined operations.
ViacomCBS will also recruit a co-lead who will oversee all of the combined company's commercial activities and operations in both markets.
ViacomCBS has also appointed Henriette Rothschild as interim chief transformation officer, who is a partner at advisory and investment firm KordaMentha.
Mr Anderson said the past 17 years at Network Ten were the best years of his professional life.
"I have worked with some extraordinary people - both in front of and behind the camera - and have been given some amazing opportunities," he said.