James Chessell has resigned as editor-in-chief of the Australian Financial Review to join Rampart, the independent media outlet founded by former Financial Review columnist Joe Aston.
Cosima Marriner, currently the newspaper’s editor, will succeed him on October 12 and become the first woman to hold its top editorial position.
Chessell took over the role just over two years ago after serving as Nine’s managing director of publishing and as executive editor of The Sydney Morning Herald and The Age. The Financial Review is owned by Nine.
At Rampart, Chessell will work as editor and writer. He and Aston previously worked together in the early 2000s in the office of then-Liberal minister Joe Hockey, and later at the Financial Review.
Aston spent more than a decade as a prominent columnist at the newspaper before leaving to write a book about former Qantas chief executive Alan Joyce. He launched Rampart last year.
Nine’s publishing chief, Tory Maguire, told staff of the changes at a town hall before confirming them in an internal note. She said the Financial Review had increased its audience, subscribers and revenue during Chessell’s tenure.
“I am thrilled to announce that Cosima Marriner will be taking the reins as the new editor-in-chief,” Maguire said. “Cosima worked alongside James as AFR editor as together they modernised the newsroom and drove the agenda for corporate Australia. She is respected across the industry and perfectly suited to take AFR into its next chapter.”
Marriner said the publication was in the best shape it had ever been and that its journalism had broadened while retaining its focus on business, finance and politics.
“My ambition for the AFR is to continue to build on our reputation for breaking major news stories, setting the agenda and being the authoritative voice which shapes our national conversation,” she said.
Speaking to staff, Chessell acknowledged that his departure would be welcomed by some journalists and regretted by others. Referring to his predecessor Michael Stutchbury, who led the newspaper for 13 years, he said: “You can’t, unless you want a heart attack.”
Some Financial Review staff were surprised by the sudden announcement. Nine has a commercial agreement with Rampart under which it provides legal services in return for a share of the outlet’s revenue, and Aston continues to write a monthly column for the Financial Review.
Rampart said last month that it had raised 2.3 million dollars in funding and hired several full-time journalists. Its investors include former Nine chief executive David Gyngell and investor Ashok Jacob, a former adviser to the Packer family, while the company was valued at about 29 million dollars.
