Seven West Media Faces Shareholder Remuneration Revolt
Seven West Media, led by Kerry Stokes, saw a strong shareholder protest at its annual general meeting in Sydney on Thursday. Over 35% of shareholders voted against the company's 2025 remuneration report.
This protest happened despite no bonuses being awarded to executives, as the company failed to meet financial targets in the past year.
Company Background and Leadership
Seven West Media is a major Australian media company with holdings in television, publishing, and digital sectors. Kerry Stokes, potentially overseeing his final AGM as chairman before the proposed acquisition by Southern Cross Media, addressed shareholders' concerns.
"The company had faced considerable challenges due to competition from very large international companies stealing all our revenue."
Stokes admitted the tough operating environment affected the company’s financial results.
Shareholder Concerns
One shareholder expressed frustration over a dramatic loss in investment value, dropping from $1 million to $27,000, and called on the board to reinstate dividend payments.
"The shareholder urged the board to reinstate dividend payments."
Summary
The significant shareholder rebellion reflects deep dissatisfaction with Seven West Media's recent financial performance and executive remuneration decisions amid increasing global competition.
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