Seven West Media is undergoing one of its biggest restructures under chairman Kerry Stokes
The media company will see an exodus of staff, including three members of the management team, amid the latest round of redundancies and a complete restructure.
Seven West Media will undergo one of its biggest restructures under Kerry Stokes’ chairmanship which includes shedding about 150 jobs, and axing three senior managers to save about $100 million.
Chief executive officer Jeff Howard addressed staff on Wednesday and said the moves are part of “cost reduction initiatives” to help “create a more sustainable and better media business.”
Mr Stokes took over as chair in 2008 and the latest restructure will include the departure of three managers of its nine-person management team.
Chief revenue officer Kurt Burnette, managing director Seven Melbourne and head of network sport Lewis Martin and chief marketing and audience officer Melissa Hopkins all leave this week.
Mr Howard informed staff that the company will be split into three categories – television, digital and WA.
“The key benefits of this new structure will be greater transparency and accountability in each business unit, and stronger co-operation and efficiencies across all business functions,” Mr Howard said.
“We also need to undertake a number of cost reduction initiatives.”
Seven West has also been dealing with a plummeting share price, on Wednesday it closed at $0.17.
It is down 36 per cent this year and 54 per cent in the past 12 months.
The company restructure is also a result of the financial impacts of Meta abandoning its commercial deals with media outlets including Seven West.
Under the changes Seven’s chief content officer, entertainment programming, Angus Ross, has been appointed to group managing director of television while the company’s chief digital officer Gereurd Roberts will begin the new role of group MD, Seven digital.
SWM’s WA CEO Maryna Fewster will remain in the same role but also head up broadcast, digital and print brands in the state.
Trent Dickeson, the director of operations and transformation, will begin as chief operating officer and acting chief financial officer Craig Haskins has been appointed CFO.
Mr Burnette has worked in the media industry for 35 years and held numerous key roles at Seven including chief sales and digital officer, he was also head of the network’s Olympics and Commonwealth Games coverage.
Mr Burnette’s LinkedIn profile said he has “cemented himself as one of Australia’s most respected and hardest-working executives.”
His total remuneration in the 2023 financial year was $1.56 million.
Mr Martin spearheaded Seven’s sports rights negotiations and broadcast management for AFL, horse racing and tennis while also heading up Seven Melbourne.
Ms Hopkins joined Seven West in March last year and previously worked at Optus.
The departures also come after it was reported by Nine’s newspapers this week that about 150 staff are being axed.
Mr Howard took over as CEO from James Warburton in April and since then the company has also seen the exit of news boss Craig McPherson.
McPherson quit after weeks of bad headlines involving the fallout with the network’s Spotlight program and claims by former producer Taylor Auerbach that Seven paid for sex workers and cocaine to secure an interview with former Liberal staffer Bruce Lehrmann.
The network has vehemently denied all allegations made by Auerbach.
McPherson was replaced by news boss Anthony De Ceglie in April and since then the news division has had a revolving door of exits and has installed new news directors in three key markets – Sydney, Melbourne and Adelaide.
De Ceglie has also appointed new executive producers for Spotlight, Sunrise and Weekend Sunrise.
Seven’s commercial director Bruce McWilliam – a key ally of Mr Stokes – also resigned in March after 21 years.
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