Find out more about our policy and your choices, including how to opt-out. They have three sons. Australian businessman Lachlan Murdoch.Credit:Rick Rycroft. In 2007, together with James Packer, they attempted to take ASX-listed Consolidated Media Holdings (which had stakes in Foxtel and various other media properties) private. Rather than stop the search once the election was called and NBN Co entered caretaker mode, … She is the second youngest person to have achieved that feat in McKinsey's storied history. 136 533 741 4 Siobhan McKenna holds a Bachelor of Economics (Hons) from the ANU and a Master of Philosophy (International Relations) from Cambridge University. Ian Smith, the influential public relations operative who advised McKenna during the NBN days, describes her as a "strong woman, a person of high integrity." Hamish McLennan, former Ten executive chairman, says she was a strong supporter of the network's push into cricket via the Big Bash League in 2013. Nationwide News Pty Limited Copyright © 2021. Earlier Ms McKenna paid tribute to Mr Quigley's work. She was commissioner of the Australian Productivity Commission, chair and board member of NBN … Adding to the pressure on Mr Quigley were recent reports that the chairman of the NBN Co board, Siobhan McKenna, had been plotting to remove him. Whelan remembers her as a "firm negotiator" who she enjoyed working with. NBN Co Limited A.C.N. A direction that was almost impossible under the existing separate ownership of Foxtel and Fox Sports," McKenna says. SIOBHAN McKenna has taken on one of the most difficult challenges in corporate Australia: making the National Broadband Network rollout work and ridding the project of political interference. All but one of the seven members of the NBN Co board have submitted their resignations to Communications Minister Malcolm Turnbull, the ABC understands. Ten Network and the taxpayer-funded NBN Co, Siobhan Louise McKenna is one … It was also at McKinsey that she met her husband James Flintoft (now CEO of Regional Development Victoria). Ms McKenna is a Commissioner of the Productivity Commission; she has focused … It was 2017 when Siobhan McKenna sat opposite Cynthia Whelan in News Corp's Surry Hills offices with the difficult job of resolving a decade-long deadlock between two of Australia's most recognisable media businesses. Over the next few months through hours of painstaking emails, phone calls and meetings, she negotiated directly with Whelan, Telstra's then head of new businesses and the chairman at Foxtel at the time, to nut out a deal. "There were periods with high degrees of tension but they were very respectful," she says. "The challenge is, she doesn't suffer fools and the media industry is full of them," this person says, "I wonder, if she was a man, whether the dynamic would be different.". It is used to describe a tactic where politicians release all their bad news on a Friday because "nobody reads newspapers on the weekend". But the true test for McKenna's smarts, and ability to outplay her competition, remains the performance of Foxtel. He was then outmanoeuvred in bankruptcy proceedings by American television giant CBS, which now owns the network. Those who attended her Illyria events remember McKenna and Sarah Murdoch saying a few upbeat words together from the Surry Hills-based office space before everyone socialised with champagne. The chairwoman Siobhan McKenna submitted her resignation to the Minister for Communications, Malcolm Turnbull, along with the rest of the board. "It was clear that a merger was absolutely in the best interests of [Foxtel]. In 2013, McKenna was for the first time thrust into the national political spotlight when then Communications Minister Stephen Conroy elevated her to the chair position at NBN Co. At the time, the massive infrastructure project was struggling with external contractors failing to meet the targets they had promised. New York baby becomes world’s youngest COVID-19 vaccine reci... Find out more about our policy and your choices, including how to opt-out. However, Mr Quigley denied the claims, saying though it was “reasonable” for people to be cynical, the answer was “no”. She is the part-time Chairman of the Government-owned NBN Co. receiving $209,630 per annum (plus superannuation and other benefits) of taxpayers’ money and is now using our money to employ a lobbying firm (Bespoke) and the law firm Herbert Smith Freehills to lobby Coalition MPs so as to preserve their own jobs. "In my experience, the best way to get a deal done - whether it's a small deal or a big deal, whether it's a content deal or negotiation with a supplier, or a merger or an acquisition - is to have a principal from each side who can actually make decisions," McKenna says in a rare interview. And those two months featured an underwhelming cricket season. McKenna is an avid consumer of Sky's evening shows and sources say she doesn't shy away from providing feedback, both critical and complimentary. Yet even those who privately admit to loathing McKenna agree with the assessment that she shouldn't be underestimated. Conroy says McKenna had the NBN rollout back on track before Labor lost power. Turnbull openly criticised McKenna as well. Background and experience: Siobhan has a significant international background in strategy and policy in the public and private sectors. "To prove yourself in that world, in one of the more male dominated industries, to achieve what she has is to her great credit," he says. Her fingerprints are all over the major strategic decisions that have shaped News' current direction. Today, the business is worth much more and Murdoch reaped $53 million in dividends from the investment in the last two years. NBN Co Limited ACN 136 533 741 www.nbnco.com.au 21 March 2013 NBN Co welcomes appointment of new Chair Following an NBN Co board meeting today, the company’s Chief Executive Officer Mike Quigley, welcomed the appointment of Ms Siobhan McKenna as Chairman. Siobhan McKenna's career has mostly gone in one direction: Upwards. NBN Co. If Foxtel's existing customers (under 30 per cent of Australian households) downgrade from the more expensive current product, to the cheaper online platform, it would seriously weaken the core of the business. Author of the Good Gear Guide, Campbell Simpson tweeted that it was more reminiscent of "Big Block of Cheese Day", another West Wing reference describing former President Andrew Jackson's decision to put a big block of cheese in the lobby of the white house for any and all who wished to ease their hunger. In a joint release from Senator Conroy and Penny Wong, it was explained that Mr Young's contract expired on the 14th of March. Switkowski is unlikely to face the same level of opposition as his predecessor Siobhan McKenna or former NBN Co CEO Mike Quigley, but the role he has accepted will not be an easy The Foxtel-Fox Sports merger, agreed in principle by McKenna and Whelan, wasn't formally approved by regulators until December 2017 and completed in April last year. Tellingly, no investment bankers were initially involved. In 2005 she linked up with Lachlan Murdoch from a business perspective - now a personal friend of 25 years - when the media scion temporarily left the News Corp fold and returned to Australia to set up Illyria, his own investment vehicle. Undeterred, McKenna and Murdoch kept their ears to the ground for deals. Mr … Occasionally, she is even said to bypass Thomson on important matters. But financing proved elusive and the deal fell apart. Siobhan McKenna is a non-executive director of Ten Network Holdings, Nova Entertainment, the Australian Ballet, and is a trustee of the MCG Trust. The project was run in secret on the bottom floor of the Fox Sports building in Artarmon. "Ball breaker" and "Machiavellian" are two terms used to describe her management style. It was reported in May that NBN Co chair Siobhan McKenna had approached fellow board members to test support for Quigley. For her part, McKenna acknowledges that media in Australia is an unusually venomous industry. "Mr Young has decided not to stand for reappointment," the statement read. Harrison Young, chairman of the NBN is reportedly scheduled to step down today.Source:Supplied. Some people are calling the timing of the press conference (which is happening just half an hour before the Australian Labor leadership spill) as "opportunistic". AAP/NBN Co, Andrew Lucas. The NBN Co board comprised 7 members previously. The true test of the product, analysts say, will be the AFL and NRL seasons, which get underway in the next couple of weeks. Another says she has her "stiletto at the throat" of News Corp management to get her way. In this case we're a few days early, but the point is still a valid one. But McKenna who admits to enjoying work, is relishing the challenge. By. In one of them, she is the only member who is not a medical doctor. "I think the media industry is unusual... you'd be hard pressed to find executives at Woolworths that would publicly denigrate, or even privately denigrate, people at Coles or at Aldi," she says. Siobhan McKenna knows Australian big business intimately — and she is about to lift the lid on the “dark side” of her world. The decision followed a NBN Co board meeting today, and a new Chair has also been appointed – Siobhan McKenna, announced this afternoon. NBN Co appoints Ten director as new chair. Tensions with then-CEO Mike Quigley were widely known. "Incredibly hard working and diligent.". SENATOR Conroy's office has confirmed the resignation of NBN chairman Harrison Young. Foxtel's ownership structure prevented it from launching a credible streaming service of its own, partly because many key digital sports rights were held by an associated company, Fox Sports. "I am a great admirer of the turnaround she achieved at NBN Co," he says. Ms McKenna was a foundation director on the board, and is said to be one of the few non-political appointees on the board. The lack of women in media may have been one of the reasons McKenna, alongside Lachlan's wife Sarah Murdoch – a model, actor and television presenter – started hosting regular networking events dubbed "Women of Illyria". She has a significant international background in strategy and policy in the public and private sectors. It’s hard to sort fact from fiction, rumour from reportage and announcement from anecdote. However, unlike overseas counterparts where the majority of homes have pay-TV, it could be an opportunity to bolster market share. Ms Wong said that Ms McKenna brought "extensive experience to the role". All times AEST (GMT +10). Renai LeMay - 31/05/2013. Then opposition communications spokesman Malcolm Turnbull had been highly critical of Quigley, but McKenna's moves to pressure him didn't win her any favours. An uncompromising heavy-hitter who divides opinions, her influence and substantial power went far beyond the merger. ... (2012 to March 2017) and NBN Co. What is the salary of Siobhan McKenna? But McKenna had some small victories. "I think this is quite specific to the media industry.". Jennifer Duke is an economics correspondent for The Sydney Morning Herald and The Age, based at Parliament House in Canberra. The Coalition members stressed that 2012-13 NBN Co report was endorsed by former NBN Co Chairman Siobhan McKenna and sent to Parliament on 27 August, before the federal election. But these negotiations are a clear illustration of why she is so trusted by the Murdoch family. This is a widely-held view by those who currently work closely with her, including Cathy O'Connor, the boss of Lachlan Murdoch-owned Nova ("When you have got a high stakes situation on your hands ... she is really quick, really calm and very clear-headed") and Paul Whittaker, who has spent more than three decades at News Corp and was recently appointed chief executive of Sky News Australia ( "a strong [and] effective" leader). An ANU and Cambridge graduate, she joined vaunted consulting firm McKinsey straight out of university, and by the age of 29 had made partner. But the potential IPO had to be shelved as Foxtel's business weakened alarmingly. Kayo signed up 115,000 subscribers (more than 1 per cent of Australian households) in two months and even its critics say the technology is "excellent". Lachlan Murdoch lost millions of dollars in his attempts to turn around the free to air network. Siobhan McKenna is widely considered the most powerful individual in News Corp in Australia.Credit:Nic Walker. Siobhan McKenna chair of NBN Co. Nic Walker. McKenna won internal backing and took it to Telstra. She was strong in her backing of this concept, when others weren't so sure.". Ms Siobhan McKenna Chairman NBN Co Limited Level 40, 360 Elizabeth Street Melbourne VIC 3000 Dear Ms McKenna GOVERNMENT EXPECTATIONS SENATOR THE HON MATHIAS CORMANN Minister for Finance As you know the Government is committed … For some she is decisive and strategic. "Mr Young has decided not to stand for reappointment," the statement read. About 12 months earlier, McKenna had set up a secret internal project to develop a streaming service that would take full advantage of News Corp's tighter grip on the merged Fox Co business. NBN Co is charged to deliver high speed broadband cable to 93 per cent of Australian homes, schools and businesses by June 2021. Early signs - at least outwardly - are mixed. An executive who worked with McKenna for many years believes the glaringly different opinions about her is - at least in part - related to the fact she is one of very few strong women with a big job in Australian media. Illyria also made a disastrous, and well-documented investment in broadcaster Network Ten. It is well known that her influence out-ranks that of Michael Miller, the News Corp Australia executive chairman. McKenna tested the support for Quigley among fellow directors, but Conroy was reluctant to replace the NBN CEO so close to an election. Feed Appeal calls for help as number of Australians asking f... Taiwan COVID cases: Country hit with worst outbreak since pa... Jessica Camilleri: Woman who beheaded her mother’s life in ‘... China’s ‘warning shot’ to Australia over Darwin port. Murdoch and McKenna have been involved in some highly significant deals since then. A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. "Her expertise will help guide the NBN Co as it rolls out the NBN," she said. In a joint release from Senator Conroy and Penny Wong, it was explained that Mr Young's contract expired on the 14th of March. And so Cynthia led the negotiations on the Telstra side and I led it on the News Corp side and the deal got done in principle and only subsequent to that did we involve any advisors.". The announcement came just minutes before a press conference was due to be held by the NBN at 4pm. From this problem emerged a plan for Foxtel to absorb Fox Sports, then entirely owned by News. There’s been an endless stream of news reports around the NBN since the change of government. "Whatever she says happens, happens," says another. "She likes to be the puppet master rather than the puppet.". But subscription growth for the full-service Foxtel product remains flat. McKenna was a board member of Ten between 2012 and 2017 and undeniably played a role in that saga. The Sydney Morning Herald and The Age have spoken to more than 35 current and former colleagues and associates of McKenna. Inside News Corp Australia, the Nova deal is viewed as one of Lachlan's greatest successes, and McKenna is seen as the mastermind behind it. Those who would didn't hold back in their praise. NBN–a mixture of fibre-to-the-premises (FTTP) and fibre-to-the-node (FTTN), as well as the previous govern-ment’s plan to roll out FTTP to 93% of premises. The board of NBN Co has offered to resign en masse, falling on their sword amid suggestions they do not have the confidence of the incoming government. The network builder also announced Siobhan McKenna … The chair of NBN Co, Siobhan McKenna, has tendered her resignation to the new communications minister Malcolm Turnbull, along with those of the organisation's entire board, according to Fairfax Media. "She’s formidable and her capacity for the details is incredible. Mike Quigley, CEO of the NBN welcomed Ms McKenna and said he looked forward to working closely with her over the coming weeks and months. Siobhan Louise McKenna serves as Independent Non-Executive Director of the Company. About a year earlier, Telstra chief executive Andy Penn had discussed floating the business with News Corp co-executive chairman Rupert Murdoch and chief executive Robert Thomson. "All roads lead to Siobhan," says one former News Corp executive. "She is just seriously, genuinely smart," he says. Chair Siobhan McKenna has submitted her resignation to new Minister for Communications, Malcolm Turnbull, along with six other Directors, reports Fairfax Media. Siobhan McKenna: Meet the woman calling the shots at News Corp. Siobhan McKenna is widely considered the most powerful individual in News Corp in Australia. Critics dismiss her as the Australian executive charged with doing Lachlan Murdoch's bidding. So here’s a round up of what the new government has actually done so far to implement its promise to totally revamp Labor’s ambitious fibre to the home plan. Siobhan saw how big the idea was and supported me all the way. anthony albanese malcolm turnbull mike quigley nbn nbn co siobhan mckenna stephen conroy telco/isp Partner Content Promoted Content Four data superpowers to harness before 2022 For her part, McKenna maintains a low profile and few people outside the media bubble know much about her. I think there is enough rumour out there in the media there shouldn't have been any surprise that we came out to day with the announcement.”. Entire NBN Board Resigns. NBN: Isn’t Siobhan McKenna just doing her job? NBN Co's chairwoman Siobhan McKenna has confirmed to Shadow Communications Minister Malcolm Turnbull that the board hired a lobbyist to represent it to the Coalition. “When I was at Ten, Lachlan and I were very keen to shake up Australian Cricket with the Big Bash. Please try again later. NBN Co chairman Harrison Young will step down from his position, replaced by former McKinsey partner and current Ten director Siobhan McKenna. “It’s a pleasure to welcome Siobhan to the role of Chairman. Siobhan McKenna, NBN board member and Ten Network Holdings director has been confirmed as his replacement. "We know the [NBN Co] chairman Siobhan McKenna has been trying to sack him for some time, and he's been protected by Stephen Conroy, she's had headhunters out to find replacements, so finally he's left," Mr Turnbull said. Updated May 31, 2013 – 10.01am, first published at 12.33am Communications Minister Stephen Conroy has refused to comment on suggestions he personally intervened to shut down moves by NBN … It is a fine line to walk. “The board had to approve the forecasting. Gizmodo editor, Luke Hopewell tweeted that the NBN was embracing "Take Out The Trash day", a term coined by popular TV show, The West Wing. The Government has also appointed directors Alison Lansley and Kerry Schott, who sat on former chairwoman Siobhan McKenna’s board. McGarvey is among those who describe her as a "great supporter" of women, as does O'Connor and Woolworths board member Holly Kramer who has known her for over a decade ("[she's] one of the brightest people I know"). Siobhan McKenna considered assuming day-to-day responsibilities for running NBN Co as executive chairman until the federal election in September, a move … John McDuling is National Business Editor for The Sydney Morning Herald and The Age. "While REA was some circumstance and luck, Nova was all judgment and it was all her judgment," says one News Corp insider. "She's widely respected for it.". "Running businesses is hard," she says. "It was a large $100 million bet for the Network and there was nervousness from some stakeholders. Stephen Conroy, the former communications minister, developed a friendship with McKenna when she was NBN chairman. Foxtel, the pay-TV joint venture between News Corp and Telstra, was struggling in the face of video streaming giant Netflix, and bitter tensions between its two shareholders weren't helping. More than half an hour into our chat with Siobhan McKenna, the second-in-command at Lachlan Murdoch's private investment vehicle, Illyria, and she hasn't dropped her guard. Last night the Financial Review reported that NBN Co chairman Harrison Young (pictured) was planning to quit as the company's chairman, with current board member Siobhan McKenna to … A former Ten employee remembers it as "supportive of women in the industry at a time when women used to cut each other down and certainly weren't helping each other". She was a Commissioner of the Australian Productivity Commission and Partner of McKinsey & Company. In 2012, Illyria paid a similar amount to move to complete ownership. Almost none would immediately go on the record for fear of upsetting the well-connected News Corp broadcasting chief. The invitation was also extended to other organisations connected to McKenna and Murdoch, like Breast Cancer Australia and the ballet community (both McKenna and Murdoch are avid ballet fans and have been on the board of Ballet Australia). The question, from the perspective of McKenna's legacy and influence, is whether the Foxtel turnaround will follow the trajectory of Nova, an undisputed roaring success, or Ten, an unmitigated failure. "If it was easy, everyone would do it.". “We had a board meeting scheduled today,” he said. Siobhan McKenna is getting worried. Chairwoman Siobhan McKenna tendered her resignation along with other board members, but at … In 2009, they struck paydirt, shelling out a reported $110 million for a 50 percent stake in DMG Radio, the owner of the Nova FM radio stations. It’s a major event.” “I notice the press was in fact full of predictions of this release being imminent. ", McKenna is group head of broadcasting at News Corp, but with the ear of Lachlan Murdoch she is widely considered the most powerful individual at the historic media company in Australia (Murdoch himself describes his lieutenant as an "effective executive who takes the hard decisions and sees them through".). As an executive, she has led consumer-facing businesses in the media and digital sectors. “I can assure you the events taken place today have no connection to the process we were going through at all. It gave an opportunity for the likes of Network Ten's chief content officer Beverley McGarvey, Nova's O'Connor and senior female figures from News Corp to meet. It is hard to find anyone to say anything positive about the embarrassing collapse of Ten. The risk from News Corp's perspective is that Kayo could be too successful. After the Coalition won the 2013 election, the entire NBN board resigned as the Coalition prepared to embark upon a controversial re-design of the project. She has served on the board of NBN Co for three years. McKinsey were brought in to advise on strategy and cost-cutting. 21 March 2007 ALP announces plans to build a national high-speed broadband network for less than 2 min read March 10, 2020 - 9:37AM Siobhan McKenna, NBN board member and Ten Network Holdings director has been confirmed as his replacement. Nine former NBN Co directors, including former chair Siobhan McKenna, refuted the findings, which they claimed are “unsupported by the facts”. UPDATE: SENATOR Conroy's office has confirmed the resignation of NBN chairman Harrison Young with Network Ten Holdings director Siobhan McKenna confirmed as his replacement. "Everyone knows she calls the shots," says another person who has worked closely with McKenna. On the other hand several media executives, speaking on the condition of anonymity because they did not want to upset such an influential figure, were highly-critical of McKenna and her approach. Business Editor for the details is incredible reports around the free to air.... 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