ARN Media Names Michael Stephenson CEO with $1.1M Salary and Incentives

Leadership Transition at ARN Media

ARN Media Limited has announced a pivotal change in its executive leadership with CEO and Managing Director Ciaran Davis stepping down effective 15 January 2026. After 16 years at the company’s helm, Davis will also resign from the Board immediately. His departure marks the end of a significant era characterised by innovation and strategic evolution within the rapidly shifting media landscape.

Stepping into the CEO role will be Michael Stephenson, the company’s current Chief Operating Officer. Stephenson, who joined ARN Media earlier this year, brings nearly three decades of media industry experience and a proven track record of driving profitable growth. The Board has emphasised that this succession is the result of a thorough and deliberate planning process aimed at ensuring continuity and stability.

A Legacy of Transformation

Under Davis’s leadership, ARN Media has undergone several transformative milestones. Notably, the launch of the iHeartRadio platform expanded the company’s digital footprint, while strategic divestments such as the sale of Adshel and the stake in Soprano Design streamlined the business focus. Davis’s tenure also saw the recruitment of high-profile presenters, bolstering the company’s network appeal and audience engagement.

The ongoing transformation program initiated during his leadership continues to focus on reducing costs and enhancing digital capabilities, positioning ARN Media to capitalise on emerging opportunities in the media sector.

Incentives and Future Outlook

Michael Stephenson’s appointment comes with a comprehensive remuneration package reflecting his new responsibilities. His total fixed remuneration is set at $1.1 million per annum, supplemented by a short-term incentive plan targeting 70% of his salary and a long-term incentive plan tied to earnings per share performance over three years. These incentives align his interests closely with shareholder value creation.

Stephenson has expressed enthusiasm about leading ARN Media into its next phase, highlighting the company’s strong brands, global streaming platform, and talented team. The transition period will see close collaboration between Davis and Stephenson to ensure a seamless handover.

Board Confidence and Market Implications

Chairman Hamish McLennan praised Davis’s visionary leadership and expressed confidence in Stephenson’s ability to drive the company forward. This leadership change comes at a time when media companies face ongoing disruption and evolving consumer behaviours, making strategic agility and digital innovation more critical than ever.

Investors will be watching closely to see how Stephenson’s leadership style and strategic priorities shape ARN Media’s trajectory in a competitive and fast-changing industry.