SCA Appoints Toby Potter as CFO Amid Strategic Restructuring

Southern Cross Media Group Limited (SCA) has officially appointed Toby Potter as its new Chief Financial Officer (CFO). Potter, who has been acting as CFO since December 2024, brings over a decade of experience with the company and will now become a permanent member of SCA’s senior leadership team.

The announcement comes just ahead of SCA’s half-year results presentation on Thursday. Over the past several months, Potter has been instrumental in overseeing the company’s financial operations and has led key business optimization initiatives. His prior roles at SCA include heading commercial finance and driving business transformation.

John Kelly, CEO of SCA, expressed his enthusiasm for the appointment, stating, “I am delighted to confirm Toby’s appointment as CFO. His deep sector experience, commercial acumen and strong relationships provide a compelling skill set that will play a key role in assisting me and our broader business.”

Potter’s appointment complements Sarah Tinsley’s recent hire as Chief Legal Officer and Company Secretary. Both executives will now report directly to John Kelly as part of SCA’s executive team.

This move comes as the media company grapples with difficult economic conditions, forcing it to implement cost-cutting measures. These include redundancies across various sectors, as SCA strives to improve efficiency and competitiveness in the Australian media landscape. In an internal email, Kelly acknowledged the challenges the industry faces and emphasized the importance of reducing the company’s cost base to ensure future growth.

“To maintain this momentum and further position the business for sustainable growth, it is essential that we now reduce our cost base wherever possible,” Kelly said. “Accordingly, we are required to make further cost reductions across areas such as discretionary spend, programming, corporate overheads, and regrettably, our workforce.”

Kelly also expressed regret over the staff reductions, noting that affected employees had already been informed. “That said, this is the most difficult part of my job and of our leaders, and my thoughts are with those impacted today,” he added.

Also read: Viksit Workforce for a Viksit Bharat

Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter

About us:

The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.