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Ongoing board changes at Village Roadshow see appointment of Clark Kirby as Chief Executive
Changes at Village Roadshow have seen the appointment of Village Roadshow Theme Parks Chief Executive Clark Kirby as Chief Executive of the overall company and former Foxtel Chief Executive Peter Tonagh joining the Board as a non-executive Director.
The new appointments follow changes to the board amid a reported "family dispute" about how Village Roadshow’s cinema and theme parks business is run.
The boardroom overhaul revealed last month will lead to Chairman Robert Kirby stepping down and his son Clark Kirby replacing long-serving Chief Executive Graham Burke as of 1st January next year.
The business has also committed to bringing in an independent chairman.
The changes come after criticism about Village Roadshow’s management and directors from some shareholders, including Robert Kirby's brother, Deputy Chairman John Kirby, after a three-year share price slide that cut $500 million off the company's market value.
While the company's performance was impacted by the 2017 deaths at rival theme park Dreamworld, attendances at Village Roadshow's theme parks have largely recovered. In addition, the former Wet'n'Wild Sydney has also been sold.
Tonagh, who was appointed after a search by executive talent search business Egon Zhender, officially joined Village Roadshow on Thursday.
He stepped down from his role at Foxtel in January 2018 after about two years in the job during a period of major disruption at the pay-TV business.
The former News Corp executive is Chairman of non-profit Bus Stop Films and a member of the Council of the Australian Film Television and Radio School.
Burke, whose role at Village Roadshows spanned more than 30 years, will remain on the board.
The role of Village Roadshow Deputy Chairman, currently occupied by John Kirby, will be discontinued but he will remain a director of the company.
Robert Kirby said in a release the leadership changes would provide Village Roadshow with enhanced corporate governance and a strong board.
Image: Clark Kirby addresses the 2019 Australian Amusement, Leisure and Recreation Association Conference.
30th July 2018 - Clark Kirby outlines vision for Topgolf’s Australian expansion
18th May 2018 - Historic levels of growth in global theme park industry in 2017
15th September 2016 - Theme parks and cinemas perform but Village Roadshow profits dip
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