Kerry and Ryan Stokes' Seven Group has taken two board seats at Boral. Kerry Stokes AO holds business interests in a diverse range of industries including electronic and print media, property, mining, and construction equipment. Kerry Stokes’ stealth takeover of building and construction materials giant Boral is going perfectly to script.

REMUNERATION UPDATE: Executive Director, Chair since 2010. He is most widely known as the chairman of Seven Group Holdings, which owns Caterpillar mining equipment franchisee Westrac and is the biggest shareholder in Seven West Media, one of the largest publishing and broadcasting corporations in … If and when major asset sales are undertaken, Boral could avoid the need for a large equity issue to tide it through a cyclical and COVID trough. Media mogul Kerry Stokes arrived in Perth on a private jet on 8 April, 11 days after the Australian government ordered everyone arriving from overseas be held in a hotel quarantine. Kerry Stokes, the Perth-based billionaire, is shaping up as rescuer of last resort for the debt-ridden Seven West Media group which, without a lifeline, potentially faces an existential threat. It won't be long before Kerry Stokes controls Boral.



Most importantly Boral has acquiesced to the various activist shareholders to undertake a review of the company’s operations. Total value as at the date of the transaction. The only wrinkle in Stokes’ ambitions for Boral is the existence of a number of large activist shareholders. Wylie has argued Fagg should resign and that he believes Seven Group should have been eligible for one board representative rather than two. He is a noted philanthropist, with a special interest in art and military memorabilia. Access to our data for Kerry Stokes is only available to paid subscribers with Data & Insights access.

REMUNERATION UPDATE: Non-Executive Chair. Seven ticked off on the appointment of Boral’s new chief executive, Zlatko Todorcevski. In each instance, Stokes has used creep provisions to avoid the need for an expensive takeover bid.

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Arguably it is already. Founder of National Gallery of Australia, Kerry Matthew Stokes is a businessperson who has been at the head of 9 different companies and currently occupies the position of Executive Chairman for Seven Group Holdings Ltd., Chairman for Seven West Media Ltd. and Chairman for Australian Capital Equity Pty Ltd. Mr. Stokes is also on the board of Channel 7 Telethon Trust (former Chairman) and …

Start the day with major stories, exclusive coverage and expert opinion from our leading business journalists delivered to your inbox. In every other respect Boral was a screaming target for astute value investors - a company with a list of good assets but whose poor board and management decisions shrank return on invested capital by among other things splashing $3.5 billion on a US acquisition, Headwaters. Kerry and Ryan Stokes' Seven Group has taken two board seats at Boral.Credit:Melissa Adams, (Stokes successfully crept on the West Australian Newspapers share register, the Seven West Media register and again used this tactic to achieve controlling shareholder status in Beach Petroleum.). In the meantime another couple of activist shareholders including Perpetual had either joined the register or boosted their holdings in anticipation of Boral’s balance sheet and financial performance renovation. In 1995, he was recognised as an Officer in the general division of the Order of Australia (AO). The appointment of two Stokes representatives makes it clear that Fagg has lost control of Boral’s agenda. Channel Seven's billionaire chairman Kerry Stokes sent axed presenter Simon Reeve an email apologising after he was dumped from the network, court … Ryan Stokes became chief executive of Seven Group in 2015. If one follows this line of Stokes' conventional strategy, it is fair to assume that Boral is no longer a takeover target.

Kerry Stokes, a media mogul with previous business interests in China, gave an interview on April 30 in the West Australian newspaper (which is owned by Stokes’ company Seven West Media… At the time Fagg appeared unmoved by Wylie’s investment counsel, declaring the board was supportive of the then chief executive Mike Kane and his global strategy. Mr Stokes’ many board memberships include member of the International Council for Museum & Television, council member for the Australian War Memorial, and a former chairman of the National Gallery of Australia. Stay on top of the latest updates for your desired data. Kerry Stokes. The company has written down the value of numerous investments including a decent-sized chunk of the goodwill from Headwaters, Mike Kane has left the building and now there are four new board members - two of whom represent Stokes. His private company is called Australian Capital Equity.

Stokes is now in de facto control. Surely this must be mighty annoying for some minority shareholders who had bought into the stock cheaply over the past year in the hope of a 30 per cent premium being offered by a takeover suitor. Mr Stokes was awarded Companion in the General Division of the Order of Australia in recognition of his contributions to Australian business.