Former Nine managing director of publishing James Chessell has been appointed the new editor-in-chief of the Australian Financial Review after Michael Stutchbury stepped down from the role.
Stutchbury is the AFR’s longest-serving editor-in-chief, having been in charge of the nation’s leading finance and business publication for 13 years.
He said the time was now right to call time and pass the leadership of the outlet onto Chessell.
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“After facing a potential loss just over a decade ago, the Financial Review has never been more profitable as it has built a business model around premium digital subscriptions,” he said.
“As the team has managed the shift out of print, the masthead has never had more paying subscribers. It has doubled its audience share compared to its national rival. It has been judged Australia’s most-trusted newspaper brand.
“This fundamentally rests on the Financial Review’s high-quality journalism that has never won more plaudits and awards than in the past year. This has been led by the story of 2023, the PwC tax leaks scandal, which is now being capped by the story of this year, the CFMEU investigation.
“It is not easy to walk away from the privilege of leading a newsroom that has delivered so much. But, after 13 full-on years, now is the right time for someone with fresh energy and new ideas to lead the Financial Review’s next phase of growth.
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“As a Walkley award-winning former Europe correspondent and business editor for the Financial Review, James Chessell is the ideal person to take on this exciting challenge. The Financial Review is his natural home.”
Chessell paid tribute to Stutchbury, calling him “the best editor I’ve worked for bar none”.
“He made the Financial Review sharper and smarter than at any other time in its 73-year history and I’m delighted he will be writing for the masthead for many years to come,” he said.
“The AFR has done an outstanding job exposing corporate and political profligacy under Stutch without forgetting its mission to champion authentic innovation, entrepreneurism and success.”
Nine Managing Director of Publishing Tory Maguire, who replaced Chessell after his resignation from that role late last year, lauded Stutchbury as a “giant of Australian journalism” who was leaving behind an immense legacy and said Chessell was best placed to succeed him.
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“Having worked for James for more than five years while he was both executive editor and managing director I know him to be the most energetic, talented and determined person to take the AFR on the next phase of its growth,” she said.
“He understands audiences and believes in storytelling of the highest standard.
“He also has the best contact book of any journalist in business, which is essential for the editor-in-chief, and his love of being in a newsroom is boundless.
“The publishing team is incredibly lucky James is willing to return to Nine and lead the AFR.”
Chessel will begin in the role on August 12, while Stutchbury will return to the AFR later in the year as editor-at-large.
The Australian Financial Review is owned by Nine, the publisher of this website.
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