Sky TV's John Fellet to step down after 27 years at pay TV network

Sky TV chief executive John Fellet is stepping down after 27 years with the pay-TV company, he announced today.

Source: 1 NEWS

"In order for the Board to commence a strategic succession process, I have indicated my desire to retire within the next 12 months", Mr Fellet said in a statement.

Mr Fellet said he was proud to have grown the company from a staff of 125 and three channels, to one with over 1000 employees.

He will remain in position until his successor is found.

The company has come under huge pressure in recent years as it sheds subscribers in the modern media environment.

It recently announced changes to its pricing structure.

A proposed merger with Vodafone was denied by the Commerce Commission. 

The pay-TV provider has changed its pricing model in the hope of stemming the numbers of customers leaving. Source: 1 NEWS

Sky Chairman Peter Macourt said: "John has been the driving force behind Sky's success for many years. He has made an enormous contribution to our business, and to the television industry in New Zealand."

"We are grateful for his work and commitment to Sky, and for the succession process he has instigated, which will allow a careful search for the right individual to take the reins at Sky."