APN Outdoor Group chief executive James Warburton has announced plans to leave the billboard company less than a year into his role, after a successful takeover by global giant JCDecaux.
The former Network Ten chief executive and V8 Supercars boss has worked at the outdoor advertising business since January 22. APN’s share price has increased 45 per cent from $4.60 on the day he started the job to $6.69 on Thursday. The broader sharemarket fell about 1 per cent in the same period.
Mr Warburton told Fairfax Media he would leave the outdoor advertiser at the end of the month, with his sights set on another chief executive role and a directorship.
While he was “very proud” of the APN Outdoor team, in particular a 100 per cent success rate for advertising contracts up for renewal, the acquisition of the company was “fantastic for our staff but for me as CEO it’s just a very different role”.
He was particularly interested in opportunities at companies facing disruption, saying “business as usual” was not his preferred style.