Southern Cross Media appoints new leadership team to drive post-merger strategy
Southern Cross Media Group has announced leadership changes across its executive team, effective immediately. The comprehensive restructure follows completion of the company’s recent merger and positions the combined entity for accelerated strategy execution. The announcement comes one day ahead of the company’s 1H FY26 results release scheduled for 24 February 2026.
The media company confirmed on 23 February 2026 that Chief Executive Officer Jeff Howard will step down as Managing Director and CEO with immediate effect. Heith Mackay-Cruise, who assumed the role of Chairman on 20 February 2026 following Kerry Stokes AC’s retirement, will now serve as Interim Executive Chairman. All business unit leaders and corporate services will report directly to him whilst a global search for a permanent CEO progresses.
The Board has appointed an executive search firm to conduct a worldwide recruitment process for (ASX: SXL)’s next chief executive. This transition arrives at a strategic moment for the company, which will release its 1H 2026 financial results to the ASX on Tuesday, 24 February 2026. An investor presentation is scheduled for 9:00am AEDT the same day, to be attended by Mackay-Cruise alongside other senior executives.
Key appointments reshape the executive team
The leadership restructure introduces experienced executives across critical functions, with appointments designed to accelerate post-merger integration and operational performance.
| Role | Appointee | Previous Position |
|---|---|---|
| Interim Executive Chairman | Heith Mackay-Cruise | Chairman (from 20 Feb 2026) |
| Chief Financial Officer | Scott Butterworth | Acting CEO/CFO at PEXA |
| Interim CEO – TV and Audio | John Kelly | Internal appointment |
| Chief Transformation Officer – TV and Audio | Toby Potter | Interim CFO, SCA |
Scott Butterworth assumes the Chief Financial Officer role from 23 February 2026, succeeding Craig Haskins. Haskins, whose retirement was previously disclosed to the ASX on 7 January 2026, will complete a short transition period with his final day on Friday, 27 February 2026.
John Kelly takes on the position of Interim Chief Executive Officer for TV and Audio, with responsibilities including driving integration of the company’s television and audio assets. Toby Potter transitions from Interim CFO to Chief Transformation Officer for TV and Audio, bringing over a decade of experience within SCA’s business, including previous roles as Head of Commercial Finance and Head of Business Transformation.
Scott Butterworth brings transformation expertise
Butterworth joins Southern Cross Media Group from ASX-listed digital property settlement platform PEXA, where he most recently served as Acting CEO and CFO. His career spans more than 15 years in senior finance roles, including leadership positions at Westpac, National Australia Bank, and Slater and Gordon.
The incoming CFO brings strategic finance capability and commercial acumen developed across listed and private environments. He has led large, multi-disciplinary teams across geographies and functions, with particular experience managing complex technology transformation projects. This background aligns with the company’s strategic priorities following the recent merger completion.
What is an interim executive chairman?
An interim executive chairman combines the oversight responsibilities of a board chairman with active executive management duties on a temporary basis. This structure typically applies during leadership transitions or periods requiring decisive strategic direction.
In Mackay-Cruise’s case, the role involves direct management of business unit leaders and corporate services whilst the Board conducts a global search for a permanent CEO. This arrangement provides continuity and clear accountability during the critical post-merger integration period, ensuring strategic momentum continues without interruption.
For investors, this temporary leadership model signals the Board’s commitment to maintaining operational focus whilst identifying long-term executive leadership. Business unit leaders report directly to the Interim Executive Chairman, creating streamlined decision-making pathways during the integration phase.
Interim Executive Chairman remuneration details
The company has disclosed the remuneration terms for Mackay-Cruise’s interim role, reflecting the temporary nature of the appointment:
- Fixed remuneration: $850,000 per annum inclusive of superannuation (pro-rated)
- Short-term incentives: None
- Long-term incentives: None
- Term: No fixed term
The absence of STI and LTI components aligns with standard practice for interim executive positions, where remuneration focuses on fixed compensation without performance-based incentive structures typically associated with permanent appointments.
Board signals confidence in strategic direction
Interim Executive Chairman Heith Mackay-Cruise framed the leadership changes as strategically timed to accelerate delivery of the company’s post-merger plans.
Heith Mackay-Cruise, Interim Executive Chairman
“As the company accelerates the delivery of its strategy, SCA’s newly constituted Board has determined it is the appropriate time to appoint new leadership to take the Group forward and execute on our plans.”
Mackay-Cruise acknowledged Jeff Howard’s contribution during the transition period, noting the successful implementation of the Scheme of Arrangement and creation of what he described as a market-leading, multi-platform media company. He also expressed gratitude to outgoing CFO Craig Haskins for guidance during the recent transition period.
The Board expressed confidence in the reconstituted executive team’s capability to drive scale and performance for Southern Cross Media Group. Mackay-Cruise highlighted the team’s financial discipline and industry expertise as key factors supporting the company’s forward strategy.
Next steps for Southern Cross Media investors
The company has outlined immediate next steps for market participants following the leadership announcement:
- 1H FY26 financial results: Released 24 February 2026
- Investor presentation: 9:00am AEDT, 24 February 2026
- Global CEO search: Underway via executive search firm
The investor presentation on 24 February 2026 will be attended by Mackay-Cruise, Potter, and Kelly, providing an opportunity for the market to hear directly from the newly configured leadership team. This presentation will accompany the release of the company’s first-half financial results, offering insight into the combined entity’s performance following merger completion.
The global search for a permanent CEO remains underway, with the Board having appointed an executive search firm to conduct the recruitment process. No timeline has been disclosed for the completion of this search, suggesting the interim structure may remain in place for an extended period whilst the Board identifies suitable candidates.
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