Kerry Stokes: The Last Media Mogul Not Ready to Step Down
Kerry Stokes spent his life building a television network and newspaper publisher. At 85, he presided over his final Seven West Media annual shareholder meeting, which lasted 48 minutes, signaling the end of an era.
Retirement and Succession
Stokes will retire 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 his successor, Heith Mackay-Cruise, a seasoned media and technology director, who will lead the combined entity including the Seven Network, The West Australian, The Nightly, and radio networks Triple M and Hit.
Future Role and Perspective
As a 20% owner of the new company, Stokes plans to advise the board without interfering in decisions.
“I don’t intend to be the interfering ex, nothing worse. I’m cheering from the side now.”
Summary
Kerry Stokes, nearing retirement, shows humility in passing leadership to a younger generation while remaining a supportive advisor.