Billionaire Kerry Stokes has stepped down as chair of the Seven Group.
But he is staying on as chairman of Seven West Media, which holds the media interests including the Seven Network and the West Australian. Seven Group has a 40.2% holding in Seven West.
Terry Davis, a former group managing director of Coca-Cola Amatil, will replace Stokes at the at the Seven Group’s Annual General Meeting in November.
Davis has served on the board since 2010
Stokes has been executive chairman since the company’s formation in April 2010. Before that he was the chairman of Seven Network Limited.
The Seven Group is diversified operating and investment group with holdings in industrial services, media and energy.
This includes WesTrac, the sole authorised Caterpillar dealer in Western Australia, New South Wales and the Australian Capital Territory.
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