Kerry Stokes will step down as chairman of Seven Group, a role he has held since the company was formed in April 2010.
Former Coca-Cola Amatil boss Terry Davis will take over as chairman. Stokes will remain chairman of Seven West Media.
“Seven Group shareholders has an exceptional board of experienced directors, a talented, highly capable and hardworking management team and a strategic portfolio of businesses,” Stokes said.
“I am very proud of Seven Group and its track record and, as I pass the baton to Terry, I am very confident in its future. Terry’s contribution to Seven Group is first class and I know he will make an excellent chairman.
“In reflecting on what Seven Group has achieved in terms of building stronger businesses and delivering shareholder returns, I am confident that I leave Seven Group in the best possible hands under the stewardship of Terry and the board and the leadership of Ryan.
“Of course, I remain very committed to Seven Group and I will remain involved in the business in an advisory capacity. As a shareholder, I look forward to the company’s continued growth and prosperity”.
Kerry’s son, Ryan Stokes, is Seven Group’s chief executive.
