Seven West Media Faces Shareholder Revolt Over Remuneration
At the annual general meeting in Sydney on Thursday, Seven West Media, led by Kerry Stokes, faced strong opposition from shareholders. More than 35% voted against the company's 2025 remuneration report, signaling widespread dissatisfaction.
This protest emerged even though no executive bonuses were awarded, as the company failed to meet its financial targets in the past year.
Company Background and Leadership
Seven West Media is a significant Australian media company with interests in television, publishing, and digital platforms. Kerry Stokes, likely chairing his final AGM before the proposed Southern Cross Media acquisition, addressed shareholder concerns directly.
Challenges Highlighted by Kerry Stokes
"We have faced considerable challenges from very large international companies stealing all our revenue."
Stokes acknowledged the tough operating environment and its severe effect on the company’s financial results.
Shareholder Frustration
"My investment has dropped from $1 million to $27,000," voiced a frustrated shareholder, urging the board to resume dividend payments.
Shareholder Demands
- Reinstate dividend payments to shareholders
- Address the significant decline in investment value
- Improve financial performance amid competitive pressures
Author’s summary: Seven West Media faces a major shareholder backlash over its 2025 remuneration report amid financial struggles and pressure from international competitors, with calls to resume dividends.