Kerry Stokes Concludes Media Leadership but Remains Active
Kerry Stokes, renowned for building a major television network and newspaper publisher, recently chaired his final annual general meeting (AGM) at Seven West Media. The 85-year-old's last shareholder meeting lasted 48 minutes, marking the end of an era as Seven West prepares to merge with Southern Cross Media Group early next year.
Retirement Reflects Humble Perspective
When asked about his decision to retire, Mr. Stokes offered an unusually modest response for a media magnate, suggesting a younger leader might better serve the company moving forward.
“Because I would be arrogant if I didn’t. For me to say there wasn’t anyone better than I am is arrogant.”
Optimism for New Leadership
He expressed confidence in the incoming chairman’s ability to inject fresh energy into the company.
“I am convinced the new incoming chairman will do a great job and bring new energy and I’m excited about that.”
Transition Details and Future Role
- The West Australian will be replaced on the board by Heith Mackay-Cruise, an experienced media and technology director.
- The merged company will unite the Seven Network, The West Australian, The Nightly, and radio networks Triple M and Hit.
- Mr. Stokes will retain a 20% ownership stake and become an adviser to the board.
He assured that his future involvement would be supportive, not obstructive.
“I don’t intend to be the interfering ex, nothing worse. I’m cheering from the side now.”
Author's summary: Kerry Stokes steps down as chairman after decades leading Seven West Media but remains engaged as an adviser, confident in new leadership driving the merged company's future.
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