Former Federal Treasurer Peter Costello succeeds David Haslingden as Nine Entertainment Chair

Former Federal Treasurer Peter Costello is to replace David Haslingden as Chairman of the Nine Entertainment Company.

Haslingden will step down as Chairman and non-executive director at Nine Entertainment Company having joined the Board in February 2013, since when he has overseen the group's public market float.

Acknowledging the work of his predecessor, Costello stated “I pay tribute to David for the leadership he has given the Company since 2013.

"His experience and understanding of the industry and commitment to NEC have been invaluable throughout this period. The company is in an extremely strong financial position.

"I am delighted to take over the role of Chairman. This is an exciting time of change in the media sector and NEC is now strongly positioned to take advantage of these developments”.

In a statement, Haslingden added “I have thoroughly enjoyed my three years on the NEC Board.

"The company has achieved a lot in that short time: going public, consolidating into a 'five cap city' network, renewing key cricket and NRL franchises, disposing of Nine Live, launching Stan and 9Now and transitioning to a balanced share register of leading Australian and International funds managers".

"It’s been a busy time for my own company as well, which has now expanded from its base in New Zealand to have operations in the US, Latin America, China, SE Asia and Australia and a full time staff of over 250.

“The time is right for me to move on from NEC, leaving the company with a new Chief Executive and a best-in-sector balance sheet; a modern content business ideally placed to embark upon the challenges of the next phase of sector evolution.”

NEC also announced the appointment of Elizabeth Gaines as a non-executive independent director.

Most recently Gaines has held senior roles at ASX-listed Helloworld.

Gaines is currently a non-executive director of Fortescue Metals Group Limited and Next DC Limited, and a commissioner of Tourism Western Australia. She is also a Member of the Institute of Chartered Accountants in Australia, Australian Institute of Company Directors and Chief Executive Women.

Costello stated “we are delighted to welcome Elizabeth to the NEC Board.

"She has extensive experience across a variety of consumer-facing industry sectors. Her deep financial background will prove complementary to the current Board. I look forward to working with her, as do all of our other Board members.”

Hugh Marks, a former Nine Entertainment director, took on the role of Chief Executive in November last year.

28th September 2015 - A STAR ARISES AS NINE LIVE REBRANDS AS TEG

11th August 2015 - NRL SECURES NEW FREE TO AIR TELEVISION DEAL

14th April 2015 - MEDIAWORKS AND CHANNEL NINE TO LAUNCH NEW ENTERTAINMENT PARTNERSHIP

18th August 2011 - NINE ENTERTAINMENT ANNOUNCES NEW NAMING RIGHTS FOR ACER ARENA

27th January 2011 - GEOFF JONES RETURNS TO NINE ENTERTAINMENT CO.