Rob Murray has officially retired from his position as director and Chair of Southern Cross Media Group Limited (SCA), following through on his previously announced intention to retire at or before SCA’s 2024 Annual General Meeting. Heith Mackay-Cruise has been appointed to succeed Murray as Chair.

In a move that may streamline the ongoing acquisition process, the Board will not appoint any new directors this financial year.

The announcement comes as SCA continues to engage with ARN Media Limited and Anchorage Capital Partners Pty Limited regarding the Consortium’s revised non-binding indicative proposal to acquire SCA.

Rob Murray joined SCA as an independent non-executive director on 1 September 2014 and was appointed as Chair on 19 August 2020. Heith Mackay-Cruise was appointed as Chair of the Board’s People & Culture Committee in November 2022.

In a statement, Murray said: “After more than nine years as a director and as Chair since August 2020, and with SCA’s recent successful transition to a new CEO, the Board agreed on succession arrangements during last year. The Consortium’s revised proposal, which offers an increase in the total consideration for all SCA shareholders, provides an opportunity for me to bring forward my retirement. I am hopeful this will also help avoid the distraction and unnecessary time, cost, and resources that would be required by the recent call by one of our shareholders for an extraordinary general meeting. I wish SCA, the Board and the broader SCA team all the best for the future.”

Heith Mackay-Cruise, in his own statement, acknowledged Murray's contributions over nearly 10 years. "Becoming Chair in the middle of the lockdowns and other challenges of the COVID-19 pandemic, Rob led a process to refresh the Board and plan for future succession. Rob also helped drive SCA’s executive succession planning that has seen changes in the roles of CEO and several other members of SCA’s senior leadership team in the past 18 months. Most recently, Rob’s leadership has been critical to the Board’s securing of a significant increase in the consideration for SCA shareholders under the Consortium’s Revised Indicative Proposal. As announced to ASX on 18 March 2024, the Board unanimously determined to re-engage with the Consortium based on this higher value.”