Foxtel CEO Richard Freudenstein is stepping down from the Australian pay-TV operator after more than four years, and will be replaced by News Corp Australia CEO Peter Tonagh (pictured).
The exec is to leave Foxtel – which is co-owned by News Corp and Telstra – at the end of April to “pursue other interests,” according to a release issued by the company. He will remain as a News Corp nominee on the board of digital advertising company REA Group Limited.
Tonagh, meanwhile, previously served as chief operating officer and chief financial officer at Foxtel for nine years. He joined News Corp Australia as chief operating officer in 2013, and was appointed chief executive officer in November 2015.
He will work with Freudenstein during a transitional period, before officially taking the reins in April.
“I am extremely proud to have worked with such a great team of people who have all helped deliver our strategic plans by achieving significant subscriber growth, reduced churn and a substantial lift in our investment in Australian programming,” Freudenstein said in a statement.
Prior to joining Foxtel, the exec served as the CEO of News Digital Media and The Australian newspaper. He returned to Australia in 2006 after spending seven years at British Sky Broadcasting, most recently serving as chief operating officer.