Seven West Media Faces Shareholder Revolt Over Remuneration
At its annual general meeting in Sydney, Seven West Media, led by Kerry Stokes, encountered significant opposition from shareholders. Over 35% voted against the company’s 2025 remuneration report despite no bonuses being awarded to executives due to unmet financial targets.
Company Background and Leadership
Seven West Media is a prominent Australian media company with interests in television, publishing, and digital media. Kerry Stokes, who may chair his final AGM pending a proposed acquisition by Southern Cross Media, addressed shareholder concerns during the meeting.
Challenges Highlighted by Leadership
“We have faced considerable challenges from very large international companies stealing all our revenue,” Stokes said, acknowledging the tough market conditions affecting the company’s financial results.
Shareholder Concerns
One shareholder expressed deep frustration over the steep decline in investment value, dropping from $1 million to $27,000, and called on the board to reinstate dividend payments.
Key Points
- More than 35% of shareholders opposed the 2025 remuneration report.
- No executive bonuses were paid due to financial shortfalls.
- The company is facing strong competition from large international firms.
- Shareholders are urging a return to dividend distributions.
Summary: Seven West Media's AGM revealed substantial shareholder unrest linked to remuneration practices amid a challenging market environment and steep investment losses.
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