Walker to staff: McCarthy is right choice

FAIRFAX Media Chairman Ron Walker has emailed a memo to all staff announcing the appointment of Brian McCarthy as the company’s new cheif executive. Read the full email below:

To All Staff

I am very pleased to report to you that the Board of Directors today appointed Brian McCarthy as the new Chief Executive Officer and Managing Director of Fairfax Media Limited.

Brian is an excellent choice given his deep and extensive media experience and very successful track record as Managing Director of Rural Press Limited for 13 years. Fairfax Media has benefited enormously by his achievements as Deputy CEO and CEO, Australia, where he has managed the Australian publishing and printing assets. Brian is the right person with the right experience at this time to run the Company.

The Board also announced a reduction of the interim dividend, and highlighted a series of actions we have taken to manage the Company through the downturn.

Brian’s appointment as CEO and Managing Director gives us certainty as we head into the Christmas break, and confidence as we prepare for the New Year. I appreciate your support for his leadership.

On behalf of our Board, please accept my very best wishes for Christmas and 2009, and my personal thanks for your hard work, loyalty and understanding.

Sincerely,

Ronald Walker,
Chairman

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