Source: Radio New Zealand
An independent review of NZME’s employment practices shows management has more work to do RNZ
The chair of media business NZME says an independent review of employment practices, following the recent dismissal of three executive members of staff, indicate management has more work to do.
“More generally the review found that NZME had more work to do in order to promote and maintain a supportive work environment in which employees and other persons are treated with respect and dignity,” NZME chair Steven Joyce told shareholders at the annual meeting on Wednesday afternoon.
Shareholders also heard year-on-year revenue was up about 3 percent in the first four months of the year, with a more positive outlook for its OneRoof business, which was rocked by the dismissal its chief executive Greg J. Hornblow.
Hornblow recently pleaded guilty to a charge of receiving commercial sexual services from a minor and lost his bid for name suppression.
NZME chief executive Michael Boggs said OneRoof’s performance was back on track, with new leadership in place and a focus on further development of the property-market-related business.
“It was a disturbing time in the business. It was disturbing for people in the business, and you know, we’re very disappointed about that,” Boggs said.
“We do continue to believe, though, that Oneroof is a very important part of our business. . . and we do believe we’ve got significant growth still to come on OneRoof. And we do believe that will be shown in shareholder value in the future.”
Joyce said the board was prepared to hold OneRoof for now, in response to questions about whether the business would be sold or spun-off as a standalone business.
Boggs said the first quarter of the year has been profitable, reflecting the revenue growth as well as ongoing cost savings, though the outlook was subject to heightened economic uncertainty and global volatility.
“Management continues to closely manage costs, prioritise returns on investment, and preserve financial flexibility.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
