Kerry Stokes, the Last Media Mogul, Continues His Journey
Kerry Stokes has dedicated his life to building a television network and newspaper publishing empire. Although he recently chaired his final annual general meeting (AGM) for Seven West Media, he assured that he still has much to contribute.
Final Seven West Media AGM
On Thursday, Stokes led his last Seven West Media shareholder meeting, which lasted 48 minutes. At 85 years old, he announced his retirement from the board, timing it with the planned merger of Seven West Media with Southern Cross Media Group early next year.
Reasons for Retirement
“Because I would be arrogant if I didn’t. For me to say there wasn’t anyone better than I am is arrogant.”
Stokes acknowledged that the role might suit a younger person better and expressed confidence in his successor’s ability.
“I am convinced the new incoming chairman will do a great job and bring new energy and I’m excited about that.”
Leadership Transition and Future Role
- Heith Mackay-Cruise, an experienced media and technology director, is expected to replace Stokes.
- The merged company will combine the Seven Network, The West Australian, The Nightly, and radio networks Triple M and Hit.
- Stokes will remain involved as a 20% owner and board adviser but promises not to interfere in decisions.
“I don’t intend to be the interfering ex, nothing worse. I’m cheering from the side now.”
Stokes’s legacy is marked by his leadership and vision, while he now embraces a supportive and advisory role in the evolving media landscape.
Summary: Kerry Stokes, stepping down as Seven West Media chairman, welcomes new leadership with optimism while remaining a supportive adviser and minority owner.