Fairfax Media Limited Announces Chief Financial Office Succession

FAIRFAX MEDIA LIMITED 

ANNOUNCES CHIEF FINANCIAL OFFICER SUCCESSION 

SYDNEY, 18 October 2012: Fairfax Media Limited [ASX:FXJ] today announced that Brian Cassell will be retiring as Chief Financial Officer. David Housego has been appointed as his successor and will commence with the Company on 3 December 2012. 

Mr Cassell will step down as Chief Financial Officer but will remain with the Company for a period to assist with transition and a number of projects. It is expected that these responsibilities will conclude at the end of 2013. 

Mr Housego was previously the Executive Director and Chief Financial Officer of WorleyParsons Limited until 2011. 

Chief Executive and Managing Director, Greg Hywood, said: “We are fortunate to have had Brian’s commitment and expertise at Fairfax. His contribution to this Company has been outstanding and we will be sorry upon his departure. Brian joined Rural Press as General Manager of Finance in 1992, coming across to Fairfax in 2007 with the acquisition of Rural Press. He was appointed Fairfax’s Chief Financial Officer in 2009 and in my time as Managing Director I have appreciated his detailed knowledge of the financial operations of our business and his informed perspective. Most recently, he has played an invaluable role in establishing the Fairfax of the Future program which is delivering exceptional results for Fairfax.” 

Commenting on Mr Housego’s appointment, Greg Hywood, said: “We are very pleased to welcome someone of David’s calibre to this key executive role. David earned a fine reputation at WorleyParsons for financial management and reporting, as well as investor relations, during a period of strong growth and internationalisation of the business, as well as for his leadership during the financial crisis. He is widely respected in financial markets.” 

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Brad Hatch
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