James Warburton to exit APN Outdoor after JCDecaux takeover

APN Outdoor chief executive James Warburton will leave the business following the completion of the company takeover by JCDecaux.

Warburton joined the out-of-home advertising company in January 2018. He was previously the CEO of Supercars.

The news of JCDecaux’s interest in acquiring 100% of APN Outdoor was first made public in June 2018. The shareholders approved the takeover earlier this week.

On the announcement of his departure from APN Outdoor, Warburton said: “I have thoroughly enjoyed my role and time at APN Outdoor. It has been a privilege and an honour to lead the turnaround of our company during 2018.

“The takeover by JCDecaux, which represents a record valuation multiple in the Australasian outdoor industry, means that the role I was hired for will change significantly.

“I want to thank all of my colleagues at APN Outdoor for showing such passion and commitment to the plan we articulated as a management team at the start of the year, a plan that produced great results. I also want to thank the executive team and the board of directors for their support and for being great partners for management,” he said.

“APN Outdoor will soon be part of the biggest outdoor advertising company in the world, a company with a proven reputation for using its vast resources to drive innovation and creativity. It’s an exciting time for the business and the outdoor industry as a whole. I look forward to seeing APN Outdoor grow under JCDecaux’s stewardship.”

Speaking to The Australian Financial Review,