TVNZ CEO Kevin Kenrick to step down

TVNZ chief executive Kevin Kenrick is to step down from the role. Photo / File

TVNZ chief Executive Kevin Kenrick is to step down after more than nine years in the role.

He will continue in the role for the next six months before leaving at the end of February 2022.

TVNZ chair, Andy Coupe said Kenrick had been an outstanding leader throughout his tenure.

"From his appointment in 2012, Kevin has led the organisation through a period of significant growth and transformational change. Whilst we will be sad to see him leave, the board is confident that Kevin has positioned TVNZ strongly for future success."

Last week the company reported a net profit of $59.2 million for the year ended June 30, a significant turnaround from the $25.8 loss a year earlier.

The loss last year was attributed to the company's investment in more online and local content as it shifted its strategy to a streaming future as well as a $22.6m onerous contract impairment (which was essentially a write-down on the value of content rights bought pre-Covid, which we expected to bring in less revenue).

Kenrick said he was proud of what TVNZ had achieved in his time as chief executive.

"It's a privilege to lead such an iconic New Zealand company and I still pinch myself that we engage more than 2 million viewers every day across our content platforms.

"I've loved the opportunity to work with the incredibly talented team at TVNZ and feel confident that the business is in great shape and is well placed to take advantage of the opportunities ahead."

The statement quotes Kenrick saying the six months "gives the board time to select a new CEO heading into the public media future," which rather implies that the TVNZ-RNZ merger is on. Interesting times!

— Russell Brown (@publicaddress) September 2, 2021

Kenrick said it had been a tough decision to make.

"Yet it feels like the right time to finish. It gives the board time to select a new CEO heading into the public media future, and I'm committed to supporting them with this leadership transition."

Coupe said the board wanted to thank Kenrick for his contribution and offering to stay on for the extended notice period which would give it time to find a successor.

"They will be big shoes to fill," he said.

Kenrick plans to take an extended break after finishing at TVNZ before making any decisions about future roles.