Seven West Media Faces Shareholder Revolt Over Remuneration
Seven West Media, led by Kerry Stokes, faced a strong shareholder backlash at its annual general meeting in Sydney on Thursday. Over 35% of shareholders voted against the company’s 2025 remuneration report.
This protest occurred even though the company did not award bonuses to executives, as financial targets were not met during the past year.
Company Background and Leadership
Seven West Media is a prominent Australian media company with interests in television, publishing, and digital platforms. Kerry Stokes, who may be attending his final AGM as chairman pending a proposed acquisition by Southern Cross Media, addressed shareholder concerns.
“We have faced considerable challenges due to competition from very large international companies stealing all our revenue,” Stokes said, highlighting the tough market conditions impacting the company’s financial results.
Shareholder Concerns
One shareholder expressed frustration over a steep investment loss, explaining how their holding had fallen from $1 million to just $27,000. They called on the board to resume dividend payments.
Summary
Seven West Media's AGM revealed significant shareholder dissatisfaction with executive pay amid ongoing financial struggles and competitive pressures.
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