Kerry Stokes, the Last Media Mogul, Continues to Influence
Kerry Stokes has spent his life building a television network and newspaper publisher. Recently, he chaired his final annual general meeting (AGM) as chairman of Seven West Media, which lasted 48 minutes.
Retirement and Succession
At 85 years old, Stokes will step down from the board when Seven West Media merges with Southern Cross Media Group early next year. He acknowledged that a younger leader might be better suited for the role.
“Because I would be arrogant if I didn’t. For me to say there wasn’t anyone better than I am is arrogant.”
He expressed confidence in the new chairman, expecting refreshed energy and strong leadership.
“I am convinced the new incoming chairman will do a great job and bring new energy and I’m excited about that.”
Future Role and Company Structure
Heith Mackay-Cruise, an experienced media and technology director, is set to replace Stokes. The merged company will unite the Seven Network, The West Australian, The Nightly, and the Triple M and Hit radio networks.
Stokes, holding 20% ownership in the new entity, will serve as an adviser to the board but promised not to interfere:
“I don’t intend to be the interfering ex, nothing worse. I’m cheering from the side now.”
Author’s Summary
Kerry Stokes, stepping down after decades leading Seven West Media, remains committed to supporting the company’s future success without exerting direct control.