Seven West Media Faces Shareholder Revolt Over Remuneration
At its annual general meeting in Sydney on Thursday, Seven West Media, under the leadership of Kerry Stokes, encountered a strong shareholder backlash. More than 35% of shareholders opposed the company’s 2025 remuneration report.
This protest took place even though executives did not receive bonuses, as the company failed to meet financial targets in the past fiscal year.
Company Background and Leadership
Seven West Media is a prominent Australian media company with operations in television, publishing, and digital media. Kerry Stokes, who may be chairing his final AGM amid the prospective 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 stated.
He recognized the tough trading conditions and their effect on the company’s financial results.
Shareholder Concerns
One shareholder expressed deep dissatisfaction with the drastic drop in their investment’s value, which fell from $1 million to $27,000, calling on the board to resume dividend payments.
Summary
Seven West Media’s AGM revealed strong shareholder dissent over executive pay amid challenging market conditions and disappointing financial performance.