Stokes blames ‘marauders’ as shareholders reject pay report

Stokes Criticizes “Foreign Marauders” Amid Shareholders’ Pay Report Rejection

Kerry Stokes, in his final annual general meeting as Seven West Media chair, sharply criticized “foreign marauders” and the unfair tax system affecting the company’s declining revenues.

Financial Performance Decline

Seven West Media experienced a 4% drop in total revenue for the latest financial year. Net profit after tax fell significantly, from $67 million in 2024 to $30 million in 2025.

Stokes’ Statement to Shareholders

“The past year has been a typically eventful one, unpredictable and undeniably challenging for an industry facing persistent pressures, regulatory uncertainty, and ongoing threats from foreign marauders intent on snapping at our heels and snatching away our heartland,” Stokes said in Sydney.

"It’s pretty public challenges that we’ve faced, particularly from the platforms that come in and steal our businesses."

Shareholders’ Reaction to Remuneration Report

More than 35% of shareholders voted against the company’s remuneration report.
No bonuses were awarded to executives failing to meet targets.
Investors expressed frustration over the absence of dividends for eight years.
One shareholder highlighted the drastic drop in share price from $5 (with a 5% dividend) at purchase to just 13.5 cents today, with no cash returns.

Author’s summary: Kerry Stokes condemned foreign competition and tax issues amid falling profits and shareholder dissatisfaction over pay practices and dividend absence at Seven West Media.

Brisbane Times — 2025-11-06

Stokes Criticizes “Foreign Marauders” Amid Shareholders’ Pay Report Rejection

Financial Performance Decline

Stokes’ Statement to Shareholders

Shareholders’ Reaction to Remuneration Report

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