Kerry Stokes Marks Final AGM as Media Mogul
Kerry Stokes, after decades of building a television network and newspaper publishing empire, recently led his final annual general meeting (AGM) as chairman of Seven West Media.
Retirement Announcement and Future Plans
At 85 years old, he announced his retirement from the board, coinciding with the upcoming merger between Seven West Media and Southern Cross Media Group. Stokes acknowledged that a younger leader might bring fresh energy to the company.
“Because I would be arrogant if I didn’t. For me to say there wasn’t anyone better than I am is arrogant. I am convinced the new incoming chairman will do a great job and bring new energy and I’m excited about that.”
Leadership Transition
Heith Mackay-Cruise, an experienced media and technology director, is expected to replace Stokes. The merger will unite assets such as the Seven Network, The West Australian, The Nightly, and the Triple M and Hit radio networks under one group.
Stokes’ Ongoing Role
Although stepping down as chairman, Stokes will retain a 20% ownership stake and serve as an adviser to the board. He assured he will not interfere with decisions.
“I don’t intend to be the interfering ex, nothing worse. I’m cheering from the side now.”
Summary
Kerry Stokes, a media titan, retires as chairman but remains engaged as an adviser, confident that new leadership will invigorate the merged media company.