Seven West Media Faces Shareholder Revolt Over Remuneration
At its annual general meeting in Sydney on Thursday, Seven West Media, led by Kerry Stokes, faced a notable shareholder revolt. More than 35% of shareholders opposed the company’s 2025 remuneration report, signaling discontent despite no executive bonuses being awarded due to unmet financial targets.
Background and Company Overview
Seven West Media is a prominent Australian media company with diverse holdings in television, publishing, and digital media.
Chairman Addresses Challenges
“We have faced considerable challenges due to competition from very large international companies stealing all our revenue,” said Kerry Stokes, who may be presiding over his final AGM as chairman before the proposed acquisition by Southern Cross Media.
Stokes recognized the tough market conditions and their effect on the company’s financial results.
Shareholder Concerns
One shareholder expressed deep frustration over the dramatic decline in their investment value, which had dropped from $1 million to $27,000. They called on the board to resume dividend payments.
Key Points from the Meeting
- Over 35% voted against the 2025 remuneration report despite no executive bonuses awarded.
- Financial targets were not met in the past year.
- Competitive pressure from international firms severely impacted revenue.
- Shareholders demand the return of dividend payments amid falling investment values.
Author’s summary: Seven West Media’s AGM revealed strong shareholder dissatisfaction due to poor financial performance, competitive pressures, and halted dividends, challenging leadership under Kerry Stokes.