Macquarie Media promotes Adam Lang to CEO, Russell Tate scaling back

Macquarie Media Ltd (MML) has promoted Adam Lang to chief executive officer, effective April 3, it announced this morning.

Executive chairman, Russell Tate, who made the announcement is scaling back from his role.

MML was formed in April 2015 from the merger of Macquarie Radio Network (MRN) and Fairfax Radio Network (FRN).

Lang had been CEO of FRN for three years.

Tate as executive chairman, was effectively chairman and CEO, of both Macquarie Radio and Macquarie Media, since 2008.

This morning Tate said he would scale back his executive role over the remainder of the 2017/18 financial year, and assume a non-executive chairman role from July 1 this year.

He said that over the three years since the Macquarie Radio and Fairfax Radio merger, he and Lang had developed an excellent working relationship.

“Adam’s contribution to the success of the merger and the company’s operating and financial performance since the merger has been immense” he emphasised.

“I had originally agreed with the Board that I would remain executive chairman for two years following the merger.

“It is now almost three years, and I was very pleased to recommend to the Board that not only was it time for me to step back, but also that Adam was the right person to move into the CEO role.

“With the support of a strong senior management team, I have no doubt that Adam will do an outstanding job and in congratulating him on his appointment can assure him of my total support”.

Lang began his career in music in management roles in BMG, Warner Music and Festival Music.

In 2002 he became managing director of Warner/Chappell Music.

In 2005, he joined Network Ten as commercial airtime manager, a position he held for two years.

In 2007, Lang was appointed national inventory manager at Austereo Pty Ltd, progressing through various roles and culminating in being appointed in 2010 as national director of operations and general manager, Sydney.

In January 2012, Adam was appointed MD of Fairfax Radio Network

In October 2014 he was elected to chairman of the board of Commercial Radio Australia.

He said this morning of his new appointment, “I have immensely enjoyed the challenge of playing a senior role in the formation of Macquarie Media and it has been especially rewarding to serve alongside the senior management team of Mark Noakes and Lisa Young.

“In particular, it has been a privilege to serve under our executive chairman Russell Tate.

“His career achievements and skills are unique and have been of exceptional value to this company as well as to me individually. I am thrilled that Russell has agreed to remain chairman.

“Our working life at Macquarie Media is dedicated to making things better; whether it is for our audience (in breaking news, allowing them to express themselves or righting a wrong), our clients (in helping them to grow their business) or for our operational teams across the country (to improve the way that we function).

“Sometimes that can be achieved through very aspirational, strategic and high profile goals. It can also be through the everyday. We aim to deliver both.

“Macquarie Media is a remarkable company and is in excellent shape.

“ I am passionate about this industry and particularly about this company so I gladly accept the role of chief executive officer as a privilege and make the commitment to lead our national team to continue our success and growth.”