Seven West Media Faces Shareholder Revolt Over 2025 Remuneration Report
At its annual general meeting in Sydney, Seven West Media, led by chairman Kerry Stokes, faced strong opposition from shareholders. Over 35% voted against the company’s 2025 remuneration report.
The protest emerged despite no bonuses being paid to executives, as the company failed to meet its financial targets in the past year.
Company Context and Chairman's Remarks
Seven West Media is a prominent Australian media group with assets spanning television, publishing, and digital sectors.
Kerry Stokes, who may be chairing his final AGM ahead of a potential acquisition by Southern Cross Media, addressed shareholder concerns at the meeting.
“We have faced considerable challenges due to competition from very large international companies stealing all our revenue,” said Stokes.
He recognized the tough market conditions and their impact on the company’s financial results.
Shareholder Concerns
One shareholder expressed deep dissatisfaction over the drastic drop in their investment value, which fell from $1 million to $27,000.
“The board should bring back dividend payments,” the shareholder urged.
Summary
Despite no executive bonuses, Seven West Media confronted a notable shareholder backlash over remuneration amid financial struggles and tough competition.
Author's summary: Seven West Media faced significant shareholder pushback on executive pay as financial challenges and market pressures impacted returns and dividend policies.