BREAKING | James Warburton steps down as Seven’s CEO

Jeff Howard appointed incoming MD and CEO.

Some surprising news has just been dropped by the Seven Network, which has announced James Warburton is stepping down as CEO at the end of the year.

The following has been sent out by the Chairman to all staff and the ASX:

Kerry Stokes AC, Chairman of Seven West Media (ASX: SWM), today announced the
appointment of Jeff Howard as the incoming Managing Director and Chief Executive Officer,
succeeding James Warburton, who has advised his intention to step down from the role at
the end of FY24.

Mr Howard is currently Chief Financial Officer of SWM. The transition will be effective on or
before 30 June 2024.

TV Blackbox understands that Warburton is well-supported internally in his decision to move on as he’s worked hard to ensure the financial and leadership stability of the Network, including positioning Seven well with their recent ARN acquisition and building a strong executive team from which he as designated his successor. Despite the falling share price for the company, Warburton is considered to have performed well in the CEO role for the organisation and it is likelya move into the private sector is on the cards for him once he finishes his tenure.

Mr Stokes said:

“Jeff has an immense depth of experience and exposure across the broad
media industry and the right balance of skills to deal with a dynamic and evolving media
landscape. Having worked as SWM’s Chief Financial Officer since January 2020, he is well
positioned to continue the momentum created by James. His commercial knowledge,
passion and commitment will ensure a strong performance focus at this critical time of
change and innovation for the industry.”

Mr Howard said:

“I am delighted to be taking on the role of Managing Director and Chief
Executive Officer, having worked with James for a number of years. James is leaving SWM
in a strong position to take advantage of the opportunities that lie ahead. As we look to the
next phase of growth in an ever-changing industry, our focus is on continuing to create great
content to be the most connected news, sport and entertainment brand in Australia, while
driving value for shareholders. Our strategy of premium audience generation and
engagement across all of SWM’s platforms will remain at the forefront of everything we do.”

The Chairman thanked Mr Warburton for his contribution to the business over many years.

“On behalf of the Board and our people, I would like to thank James for his energy,
enthusiasm and outstanding contribution. James came to SWM at a difficult time and has
been immensely successful in reinvigorating Seven’s ratings, strengthening the balance
sheet and setting Seven up for future success,”

Mr Warburton said:

“It has been an incredible journey at SWM and with an exceptionally
talented team in place, the time is right for the company to take the next step. I take great
pride in the transformation of SWM in recent years and its position as the leader in total TV
in both ratings and revenue.

“A significant improvement in the balance sheet and digital earnings, underpinned by long-
term AFL and cricket TV and streaming rights, and the acquisition of Prime have given the
company a very strong future. I’ve now spent more than 15 years of my professional life
working for Seven (in two stints) and I’d like to thank Kerry and Ryan Stokes, the other
Directors and our major shareholders for the wonderful opportunity and their support.

“Jeff is an extremely talented leader and the transition to him will be seamless. I can’t think
of a better person to lead the best media executive team in the business. While I look
forward to the next chapter in my career, I am confident I am leaving SWM in excellent
hands,” .

The search for a new SWM Chief Financial Officer has commenced.