Seven West Media Faces Shareholder Revolt Over Remuneration
Seven West Media, led by Kerry Stokes, confronted a major shareholder revolt during its annual general meeting in Sydney on Thursday. Over 35% of shareholders opposed the company’s 2025 remuneration report.
This protest took place despite executives not receiving bonuses, as the company failed to meet financial targets in the past year.
Company Profile and Leadership
Seven West Media is a prominent Australian media company with holdings in television, publishing, and digital platforms. Kerry Stokes, who may be chairing his final AGM before a possible acquisition by Southern Cross Media, addressed the shareholders' concerns directly.
Challenges Highlighted by Kerry Stokes
“We have faced considerable challenges due to competition from very large international companies stealing all our revenue.”
Stokes admitted the tough business climate has adversely affected the company’s financial results.
Shareholder Concerns
One shareholder expressed deep disappointment over their investment’s collapse, which dropped from $1 million to $27,000, and called on the board to resume dividend payouts.
Key Facts
- More than 35% of shareholders voted against the 2025 remuneration report.
- No bonuses were given to executives due to missed financial goals.
- Kerry Stokes acknowledged the difficult competitive environment.
- A shareholder urged the reinstatement of dividends after substantial loss in investment value.
Author's Summary: Significant shareholder opposition to Seven West Media’s remuneration plan highlights ongoing financial struggles amid fierce international competition and investor dissatisfaction.
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