Stokes blames ‘marauders’ as shareholders reject pay report

Stokes Criticizes ‘Foreign Marauders’ and Tax System Amid Falling Revenues

Kerry Stokes, in his final annual general meeting as Chair of Seven West Media, strongly condemned “foreign marauders” and an unfair tax regime affecting the company’s declining revenues.

Financial Performance Decline

Seven West Media reported a 4% drop in total revenue for the latest financial year. The group’s net profit after tax fell sharply, from $67 million in 2024 to $30 million in 2025.

Stokes’ Address to Shareholders

“The past year has been a typically eventful one, unpredictable and undeniably challenging for an industry facing persistent pressures, regulatory uncertainty, and ongoing threats from foreign marauders intent on snapping at our heels and snatching away our heartland,” Stokes said in Sydney.
“It’s pretty public challenges that we’ve faced, particularly from the platforms that come in and steal our businesses.”

Shareholder Response

More than 35% of shareholders opposed the group’s remuneration report, despite executive bonuses being withheld due to unmet targets.

Investors also expressed frustration over the absence of dividends for eight years. One shareholder remarked on the steep decline in the group’s share price, falling from $5 with a 5% dividend at purchase to just 13.5 cents today without any return.

Summary

Kerry Stokes highlighted external threats and financial challenges as key factors in Seven West Media’s recent struggles, while shareholder dissatisfaction signals concerns over long-term returns and management rewards.

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Brisbane Times Brisbane Times — 2025-11-06

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