- Nine Entertainment (NEC) Chief Financial Officer, Paul Koppelman, has resigned just before the company releases its 2020 financial year results
- Paul has left the company after 11 months due to personal reasons, including the death of a family member
- Nine has also given a glimpse into the impact of COVID-19 on its earnings before interest, taxes, depreciation, and amortisation
- It expects this will land between $390 million and $410 million
- This is down eight per cent from Nine’s previous annual earnings forecast of around $424 million, which was dropped in March
- The entertainment company is also expecting to report a net debt of around $300 million
- On market close, Nine is down 0.36 per cent and is trading for $1.37 per share
Nine Entertainment (NEC) Chief Financial Officer, Paul Koppelman, has resigned just before the company releases its 2020 financial year results.
Paul has resigned for personal reasons, which includes the death of a family member. He has been with the company for 11 months. The resignation is effective immediately.
Graeme Cassells, who is currently the Group Financial Controller, will take on the role as acting CFO.
Nine has also given a glimpse of the financial impacts from COVID-19.
The company is expecting earnings before interest, taxes, depreciation, and amortisation (EBITDA) to be in the range of between $390 million and $410 million. This is down eight per cent from Nine’s previous annual earnings forecast of around $424 million, which was dropped in March.
Nine is also expecting to report a net debt of around $300 million. The company will report its 2020 financial results on August 27.
On market close, Nine is down 0.36 per cent and is trading for $1.37 per share.