Voelte gets call in Seven's big shake-up
The departure by Mr Gammell follows the announcement earlier this month that Mr Voelte, the former Woodside boss, would stand down as managing director and CEO of Mr Stokes's 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 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 down from leading that business.
"We are pleased that Don has accepted this challenge at Seven Group Holdings," said Mr Stokes.
During his short stint of 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 aide 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," 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.
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Seven Group Holdings announced a second round of management changes: long‑time executive Peter Gammell will step down as a director and resign as CEO of Seven Group Holdings on June 30, and Don Voelte has been appointed as the company's new CEO. Voelte will also become deputy chairman of Seven West Media as part of the reshuffle.
Don Voelte is the former Woodside boss who was running Seven West Media. The company has appointed him as CEO of Seven Group Holdings, and he will also serve as deputy chairman of Seven West Media once he steps down as managing director and CEO of that media business.
Peter Gammell, a long‑time aide to Kerry Stokes and instrumental in recent transformations at Seven Group Holdings, said it was an opportune time to take the next step in his journey with Kerry. He will resign as CEO of Seven Group Holdings on June 30.
Don Voelte will stand down as managing director and CEO of Seven West Media in July to make way for Tim Worner. When Voelte steps down from the top operational role he will move to the deputy chairman position at Seven West Media.
During his short stint running Seven West Media, Don Voelte cut costs, stripped back expenses and sharply restructured the TV network's operations. Kerry Stokes said those fundamental changes have helped place the company in a stronger position to meet a challenging media and consumer landscape.
Seven Group Holdings is described in the article as a diversified investment company that holds stakes in the Seven Network and in mining services company WesTrac, among other assets in Kerry Stokes's investment and media stable.
A major restructuring in 2011 led to the creation of Seven West Media when West Australian Newspapers acquired Seven Media Group. That deal formed the combined media business that has since been managed and reshaped by the group's leadership.
Kerry Stokes said he was pleased Don Voelte accepted the challenge of leading Seven Group Holdings. Stokes praised Voelte's contributions at Seven West Media, noting the changes implemented have placed that company in a strong position amid a challenging media and consumer landscape.
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