Kerry Stokes, the last of the media moguls, is not done yet
Kerry Stokes dedicated his life to building an extensive media empire that includes television and newspapers. As he chaired his final annual general meeting for Seven West Media, he made it clear he was far from finished contributing to the industry.
On Thursday, Stokes led his last shareholder meeting, which lasted 48 minutes. At 85, he explained his decision to retire, noting he would leave the board when Seven merges with Southern Cross Media Group early next year.
“Because I would be arrogant if I didn’t,” he told The Nightly. “For me to say there wasn’t anyone better than I am is arrogant.”
He expressed strong confidence in his successor, believing the new leadership would bring enthusiasm and fresh ideas to the organization.
“I am convinced the new incoming chairman will do a great job and bring new energy and I’m excited about that.”
Unless a last-minute counteroffer appears, Heith Mackay-Cruise — an experienced media and technology executive — will replace Stokes. The upcoming merger will combine the Seven Network, The West Australian, and The Nightly with the Triple M and Hit radio networks.
Stokes will remain engaged as a board adviser and a 20 percent owner of the new company but made it clear he intends to stay out of daily operations.
“I don’t intend to be the interfering ex, nothing worse,” he told Seven News. “I’m cheering from the side now.”
Author’s Summary
Kerry Stokes ends his long tenure leading Seven West Media, passing the torch to new leadership while remaining a supportive adviser in the company’s next chapter.