Australia’s largest magazine empire has a new boss in Nick Chan. As the Oz‘s Jake Mitchell writes in a lengthy profile for today’s paper, the veteran magazine executive has “one of the toughest jobs in media”. Bauer, formerly ACP magazines, has been losing ad market share in the four years it’s been owned by the Bauer family. The man they first bought in to fix the problem, veteran British Bauer exec David Goodchild, was gone within the year. So they’ve turned to a local mag veteran to get the job done. He comes highly recommended — Chan’s a “fixer”, says our own illustrious leader Eric Beecher in the Oz. Of course, the notion of “fixing” a business send shivers through any mid-ranking executive’s spine.

Chan returned last month from a trip to Germany, and the business’ Australian managers expected him to make cuts soon after. They’re still nervously waiting, though everyone still expects a shake-up. Publisher positions are seen as particularly vulnerable — Bauer remains relatively top-heavy in that regard, particularly compared to Seven’s Pacific Magazines, of which Chan was CEO for nearly a decade. Bauer also publishes a lot of unprofitable magazines — it’s not expected all will survive the next period.