Kerry Stokes Reflects on Final AGM as Media Mogul
Kerry Stokes, who dedicated his life to building a television network and newspaper publishing empire, recently presided over his final annual general meeting (AGM) as chairman of Seven West Media. The meeting lasted 48 minutes on Thursday.
Retirement and Succession Plans
The 85-year-old Stokes will retire from the board when Seven West Media merges with Southern Cross Media Group early next year. Explaining his decision, Stokes made a rare admission for a media titan, acknowledging a younger individual might be better suited for the role.
“Because I would be arrogant if I didn’t. For me to say there wasn’t anyone better than I am is arrogant.”
He expressed confidence in the new leadership, saying,
“I am convinced the new incoming chairman will do a great job and bring new energy and I’m excited about that.”
Future Roles and Company Structure
Heith Mackay-Cruise, a seasoned media and technology director, is set to replace Stokes. The merged company will unite the Seven Network, The West Australian, and The Nightly with the Triple M and Hit radio networks.
As a 20% owner, Stokes will transition to an advisory role on the board, promising not to interfere in decision-making.
“I don’t intend to be the interfering ex, nothing worse. I’m cheering from the side now.”
Summary
Kerry Stokes, after decades of leadership, steps down with confidence in the next generation and remains a supportive adviser in a merged media company.