Door to Fairfax Board Room Still Close to Gina Rinehart
By Vittorio Hernandez | June 2, 2014 9:09 AM EST
For the second time, Fairfax Media closed its board room door to majority shareholder and mining billionaire Gina Rinehart. The media company opted to replace retiring director Sam Morgan with advertising executive and TV personality Todd Sampson.
Sampson heads global advertising agency Leo Burnett's Australia operations and is panel member of ABC show Gruen Transfer.
Rinehart, through her mining company Hancock Prospecting, owns a 14.99 per cent of Fairfax Media. She campaigned in 2012 to win a seat in the board, but Fairfax CEO Greg Hywood said the mining billionaire's appointment was blocked due to her refusal to agree to the board's condition that she would not interfere in editorial decisions.
Many saw Rinehart's buy-in of Fairfax stocks was to have a bigger say on editorial content, particularly if it concerns her mining company and issues related to the mining industry. Australia's richest person and at one time the richest woman in the world is known for speaking her mind about Aussie issues, at times incurring public anger for her suggestions.
In lieu of Rinehart, the Fairfax board appointed Jack Cowim, founder of restaurant chain Hungry Jack's and close friend of the mining magnate, as independent director in 2012.
In a statement, Fairfax Chairman Roger Corbett said, "We are delighted that Todd Sampson has agreed to join the Fairfax board. We believe that he will bring a deep knowledge of media, marketing, advertising and digital transformation to our board."
To contact the editor, e-mail:
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Global Aviation Accidents: UN to Form Safety Task Force, Gov'ts Should Share Intelligence Info to Avert Future Incidents on Flying Over Warzones (PHOTOS)
- PageSix: Beyonce & Jay Z Union is Not About Love, All About Business & the Brand
Join the Conversation
- New Malaysia Airlines Caught in Adelaide Airport Latest Scare
- Toyota Tops World Sales of Cars, Sells Over 5K Million Vehicles in First Half of 2014
- Man Swindles Apple for $309,768 in 16 States
- Formula 1 Chief Sues Google over Sex Party Pictures
- Air New Zealand Pays $1000 to NZ9 Passengers After Three-Night Delay
- Samsung Galaxy S5 Alpha Leaks Online: Release Date, Five Features to Wait for New Smart Phone
- Photos of Motorola Moto X+1 Prototype and Specs Leak Online, Release Date, Four Fresh Features Revealed
- Sony Xperia Z3: Release Date, Five Features to Expect from New Android Smart Phone
- Freshly Leaked Apple iPad Air 2 Cases Confirm Touch ID Sensor; Release Date, Limited Specs and Price Listed
- Top Surprising Features Of iOS 8
- Top 4 Reasons Why iPhone 6 Will Hit Big Soon After its Sept 2014 Release Date
- Twin Malaysia Airlines MH370, MH17 Aviation Disasters Create Phobia Among Travellers