Seven West Media Faces Shareholder Remuneration Revolt
Seven West Media, led by Kerry Stokes, faced a strong shareholder revolt at its annual general meeting in Sydney on Thursday. Over 35% of shareholders voted against the company’s 2025 remuneration report.
The protest came even though the company did not pay bonuses to executives, as financial targets were not met in the previous financial year.
Company Background and Current Challenges
Seven West Media is a prominent Australian media company with holdings across television, publishing, and digital media sectors. Kerry Stokes, likely overseeing his final AGM as chairman due to a proposed acquisition by Southern Cross Media, addressed shareholder concerns directly.
“We have faced considerable challenges due to competition from very large international companies stealing all our revenue,” Stokes stated, acknowledging the tough operating environment and its impact on financial results.
Investor Concerns
One shareholder expressed deep frustration over the steep drop in their investment value, which plummeted from $1 million to $27,000. They urged the board to consider restoring dividend payments.
Key Points
- More than 35% of shareholders opposed the 2025 remuneration report.
- Executives received no bonuses due to unmet financial targets.
- Kerry Stokes highlighted fierce international competition hurting revenue.
- Shareholders demand the return of dividends amid losses.
Author’s summary: Seven West Media faces mounting shareholder pressure as a significant vote against executive pay reflects deep investor frustration with financial losses and market challenges.