McCarthy moves on from Fairfax Media

More movement in the media industry as Brian McCarthy resigns as CEO of Fairfax Media.

In a statement, McCarthy, who has been with Fairfax Media and Rural Press for 34 years, said that the decision to resign came after discussions with the board. “Quite simply, I decided I could not commit to the time required by the board,” he said.

Chairman, Roger Corbett, said that there were board-initiation discussions with McCarthy over his future with the company. “Brian did not believe he could make a commitment for the next three-five years,” Corbett said. “We agreed that now, at the beginning of the implementation of the plan, it was the appropriate time for the leadership change.”

A global executive search is currently being conducted with Greg Hywood, non-executive director, assuming the role of acting chief executive in the interim.

McCarthy’s exit caps off what has been a year of major change within the media management circles. It began in July, when Brendan Hopkins announced that he would finish as CEO of APN News and Media at the end of the year. Only one week later, John B Fairfax retired as director of company after almost 50 years. Last month, PBL Media’s CEO, Ian Law, resigned from the top job, the same year as the company pulled the plug on plans for its own printing site. Amid these major exits from prominent media identities, it is only News Limited that has not seen such significant changes to its top management.