RNZ chief executive and editor-in-chief Paul Thompson is bringing forward his departure by about six weeks, after the public broadcaster disclosed an $11.8 million deficit and plans to cut the equivalent of 58 full-time jobs.

Thompson’s last day will be Monday 16 November.

He had been due to leave on 31 December, having announced his resignation in May. At the time, then board chair Jim Mather said Thompson had told the board in December 2025 that he intended to leave at the end of 2026.

In a message to staff released by RNZ, Thompson said he felt leaving sooner was best for him, his family and the broadcaster.

“The last few weeks have, of course, been difficult. As Chief Executive and Editor-in-Chief I take responsibility for the financial issues we are dealing with.

It is a sad note to end on. I will contribute to the independent review to help ensure RNZ robustly examines what went wrong and identifies improvements,” Thompson said.

The deficit for the year to 30 June was more than 25 times the $470,000 loss RNZ had forecast.

The broadcaster said its internal reports gave management and the board an inaccurate picture of its finances. Operating costs ran $6.4 million over budget, staff costs were $3.2 million higher than expected and $2 million in land sale proceeds had been incorrectly counted as revenue in its forecast.

The annual audit also found RNZ breached the Crown Entities Act by entering into a $5 million overdraft facility in June without approval from the finance and media ministers. The board signed off on the facility. RNZ drew up to $2.3 million during the financial year and had a zero overdraft balance at 30 June.

A police spokesperson told chrislynchmedia.com it was not a police matter. The Serious Fraud Office declined to say whether it was investigating.

The independent review will examine RNZ’s financial reporting, internal controls and how management and the board exercised oversight. Board chair Brent Impey told Sean Plunket on The Platform that the findings would be made public.

In announcing Thompson’s early departure, Impey paid tribute to his 13 years at RNZ and said he had been given inaccurate financial information.

“He has responded to a difficult situation with courage and integrity,” Impey said.

RNZ is forecasting a further $7.8 million deficit this financial year and aims to make the staffing cuts by the end of March 2027, subject to employment processes.

Chief news officer Mark Stevens will take over as acting chief executive and editor-in-chief on Tuesday 17 November.

NZME chief audio officer Jason Winstanley was named as Thompson’s permanent successor in September and will take up the chief executive role in 2027.