Matthew Stanton has been appointed Nine's chief executive officer and managing director, effective immediately, Nine announced on Thursday.
The former chief finance officer became acting CEO when Mike Sneesby stepped down in September after coming under scrutiny for carrying the Olympic torch in Paris while Australian staff were on strike for better pay and conditions.
Nine chair Catherine West suggested Mr Stanton was a cut above other candidates who put their hand up for the coveted role as part of a "comprehensive international search".
"Matt's mix of strategic and commercial acumen, transformation and media experience, strong values, and an open and collaborative approach to leadership, make him the right person to lead Nine," she said.
Mr Stanton has previously worked as chief transformation officer at Woolworths and was chief executive officer of both German conglomerate Bauer Media and Australian dairy company Barambah Organics.
As acting boss, Mr Stanton has led a reset of Nine's operating model, overhauled the executive team and speed up strategic and cultural organisation-wide reform programs.
"I've been buoyed by the buy-in from people across the company as we progress our ambitious plans to reset and grow the business," he said.
"I am committed to continuing to reform and strengthen Nine in the interests of all shareholders and our people."
Nine owns some of Australia's biggest media platforms, including Channel Nine, streaming service Stan, talkback radio stations 2GB and 3AW, The Sydney Morning Herald, The Age and the Australian Financial Review.
It was a turbulent 2024 for the company, with former news director Darren Wick departing in March after allegations of mistreating women.
Long-time chair and former federal treasurer Peter Costello also resigned in June after an altercation with a journalist at Canberra airport.
A subsequent report into the company's culture revealed Nine's systemic issues with abuse of power, bullying, discrimination and harassment, including sexual harassment.
Nine's share price bottomed out at $1.095 in November, its lowest point since March 2020 when the COVID-19 pandemic locked down the country for the first time.
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