oOh!media managing director and chief executive officer Brendon Cook has announced he will step down in 2020 after 30 years at the helm of the outdoor advertising company he founded in 1989.
In a statement to the Australian Securities Exchange, Cook said he will remain in the role and on the board until a global executive search is completed and will then work with the board to “ensure an orderly and seamless transition” to the new CEO.
Cook founded oOh!media (ASX: OML) as Outdoor Network Australia in 1989 and his expertise and knowledge will still benefit the business as he takes up a non-executive consulting role to provide ongoing strategic advice to the new CEO. oOh!media is also the owner of leading grand format printing business, Cactus Imaging.
“I have been extremely fortunate to have worked with such a great team of people over the past 30 years; to have witnessed the company grow to the size and scale it is today is immensely satisfying and I am delighted I will continue to be part of the oOh! story to ensure it is well set up for the next stage of growth,” Cook said in a statement to the ASX.
“With our integration now largely complete and a strong team in place, I believe now is the right time to make the transition.”
oOh!media chairman Tony Faure said Cook’s contribution to the establishment has been “exceptional” and that it has led to the growth and success of the company over the last 30 years.
“Brendon has been a true pioneer of the Out Of Home industry in Australia. Having founded oOh!media in 1989, he has been an innovator and passionate industry leader,” he said.
“Brendon had the foresight to recognise the growth potential of digital and has been a powerful advocate for the development of new outdoor environments to capitalise on the rapid growth in media consumption habits away from home.
“He also led the development of new ways to measure the true value of the out of home segment.
“He has successfully led oOh!’s diversification strategy to build a data-centric, scalable multi-format business across billboards, retail, office buildings, street furniture, rail, universities, cafes and airports, which leads the Australian and New Zealand markets.
“I would like to thank Brendon for his enormous commitment and dedication to building and leading our business over the past 30 years. We look forward to continuing to work with Brendon in his new role.”
In 2018 oOh!media bought Adshel for $570 million with French giant JC Decaux acquiring APN Outdoor for $1.2 billion marking the largest shakeups of the Australian outdoor media industry.
At the time of writing, oOh!media’s shares were trading at $3.40.
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