We are getting beyond the point where the Kerry Stokes-controlled Seven West Media could be described as behaviourally accident-prone. Despite suffering from chronic governance failings, it has seemingly escaped the shareholder backlash that would normally be associated with a decade-long string of scandals.

Seven West is a listed company. So where are the shareholders who normally would be challenging the company’s board and seeking an explanation about a string of reputation concerns?

Not a peep.

Seven West chairman Kerry Stokes.Credit: Trevor Collens

Wholesale board churn and the hollowing out of senior management was the punishment dealt to other listed companies such as AMP or Rio Tinto when serious cultural, ethical or governance breaches were uncovered.

Seven West Media, however, is dominated by old-style media mogul Stokes, who is chairman and whose son Ryan also sits on the board.

This past week has generated particularly unsavoury allegations about some inner workings at the Seven Network.

Seven wouldn’t be the first to have uncovered the misuse of company funds. But good disclosure hygiene means that these should not have been kept secret.

A former producer, Taylor Auerbach, gave evidence in the Federal Court about several payments he claimed were made to former Liberal staffer and alleged rapist Bruce Lehrmann to buy his agreement to an interview with Seven program Spotlight. Auerbach alleged those payments included reimbursing Lehrmann for money he spent on illicit drugs and sex workers.

This week, an investigation by Nine mastheads revealed Seven had previously engaged a law firm to investigate unauthorised personal use of company benefits by certain staff.

QOSHE - Seven West Media’s culture needs rehabilitation - Elizabeth Knight
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Seven West Media’s culture needs rehabilitation

7 1
10.04.2024

We are getting beyond the point where the Kerry Stokes-controlled Seven West Media could be described as behaviourally accident-prone. Despite suffering from chronic governance failings, it has seemingly escaped the shareholder backlash that would normally be associated with a decade-long string of scandals.

Seven West is a listed company. So where are the shareholders who normally would be challenging the company’s board and seeking........

© The Sydney Morning Herald


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