The 'Kerry go round' sees lieutenant out
Mr Gammell's departure follows the announcement earlier this month that Mr Voelte, the former Woodside boss, would stand down as managing director and chief executive of Mr Stokes' media play, Seven West Media, in July to make way for Tim Worner.
Seven Group Holdings, a diversified investment company that has stakes in the Seven Network and the mining services company WesTrac, said on Thursday that Mr Voelte had been appointed as its new CEO. Mr Voelte will also be deputy chairman of Seven West Media when he steps from that business.
"We are pleased that Don has accepted this new challenge," said Mr Stokes.
During his short stint running Seven West Media he hacked into the cost base, stripping back expenses and sharply restructuring the TV network's operations.
"In his role as a director and then CEO, his contributions in implementing fundamental changes at Seven West Media have placed that company in a strong position to meet the demands of a challenging media and consumer landscape," Mr Stokes said.
Mr Gammell, a long-time lieutenant to Mr Stokes, will resign as CEO of Seven Group Holdings on June 30. "Having been instrumental in the transformation of Seven Group Holdings over the past three years, it now seems to me to be an opportune time to take the next step in my journey with Kerry, with whom I have and will continue to have a strong and close relationship," Mr Gammell said.
A major restructuring of Seven in 2011 led to the creation of Seven West Media through the acquisition of Seven Media Group by West Australian Newspapers.
Elizabeth Knight— Page 28
Frequently Asked Questions about this Article…
Seven Group Holdings announced that long-serving CEO and director Peter Gammell will resign effective June 30, and Don Voelte has been appointed as the company's new CEO.
Don Voelte, the former Woodside boss, has been appointed CEO of Seven Group Holdings. According to the announcement, he will also become deputy chairman of Seven West Media when he steps down from that business in July to make way for Tim Worner.
Peter Gammell said it now seems an opportune time to take the next step in his journey with Kerry Stokes after being instrumental in transforming Seven Group Holdings over the past three years. He will resign as CEO on June 30.
Seven Group Holdings is described as a diversified investment company with stakes including the Seven Network (through Seven West Media) and the mining services company WesTrac.
During his short stint running Seven West Media, Don Voelte cut costs, stripped back expenses and sharply restructured the TV network's operations—changes Kerry Stokes says placed the company in a stronger position for a challenging media and consumer landscape.
The company said Don Voelte will stand down as managing director and CEO of Seven West Media in July to make way for Tim Worner. Peter Gammell will resign as CEO of Seven Group Holdings on June 30, and Voelte has been appointed Seven Group Holdings' new CEO.
Tim Worner has been named to replace Don Voelte as managing director and chief executive of Seven West Media when Voelte steps down in July, according to the announcement.
The article frames the shifts as orderly leadership changes within Kerry Stokes' investment and media group. Management says the moves follow recent restructures and that Voelte's cost-cutting and operational changes have positioned Seven West Media to face a challenging media landscape—points investors may want to note when assessing the group's operational direction and governance.
Call 1300 880 160
Start a chat
Schedule a call
