Former Fairfax chairman Falloon to leave Nine board

Former Fairfax chairman Nick Falloon is stepping down from the board of Nine Entertainment but will remain as chairman of property group Domain, which is majority-owned by the media group.

Nine, the publisher of this masthead, told the market on Friday that Falloon will end his tenure as deputy chairman and retire from the Nine board immediately before the annual general meeting in November.

Falloon was given the non-executive deputy chairman role at Nine in 2018, after the merger between Fairfax and Nine was completed.

Nine Entertainment’s deputy chairman Nick Falloon (left), and CEO Mike Sneesby at last year’s AGM. Credit:James Brickwood

With his departure removing the final vestiges of Fairfax from Nine’s board, Falloon said the two businesses (Fairfax and Nine) were now integrally enmeshed with each other.

“It has been rewarding to see the benefits of the merger realised and the two businesses become integrated so effectively,” Falloon said in a statement.

“The time is right for me to step down from the Nine board, four years after the merger between Nine and Fairfax.”

“I am looking forward to continuing in my role as chairman of Domain, and contributing to the growth of Nine through that role.”

Nine chairman Peter Costello said Falloon’s continued presence at Domain was a big bonus for the media company.

“Nick has been a valuable contributor to the Nine board since December 2018, and to the Fairfax board before that. I thank him for his commitment,” Costello said.

“I am pleased that he intends to remain on the Domain board for a further term, to provide continuity for that business, which is an important part of the Nine group. Nine will look to appoint an additional director to the Nine board to replace him, over the next year.”

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