SCA CFO – It’s extremely disappointing and costly

Staff Writer

Just last week Southern Cross Austereo confirmed the departure of new CFO Peter Lewis, one month after he joined the company

In the Australian Financial Review today, Southern Cross Media Group chairman Max Moore-Wilton labelled the departure of Peter Lewis as “extremely disappointing and costly but it’s an imperfect world.”


"One employee, a senior member of management who was on probation came in, considered his position, and decided to resign for personal reasons. End of story."

Max Moore-Wilton also said he was unaware of any disagreements between Mr Lewis and the Southern Cross board. 


A softer tone was taken for the Stock Exchange statement last Tuesday with CEO Rhys Holleran saying"Southern Cross Media Group Limited (ASX: SXL) was informed yesterday that Peter Lewis has made the decision to resign from the position of Chief Financial Officer.

Mr Lewis will remain with the Company to agree suitable transition arrangements. SXL is commencing an executive search for a suitable replacement immediately.  

“On behalf of the SCMG Board and Management, I wish Peter well in his future endeavours.”

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