Self-made man: Kerry Stokes to step aside from Seven Group
Self-made billionaire Kerry Stokes is retiring from the board of his media and investment company, Seven Group Holdings.
Kerry Stokes will step down as chair of the Seven Group (ABC photo)
Seven on Wednesday said Stokes will step down as executive chairman after 11 years, following an annual general meeting in November.
Stokes will remain as chairman of Seven West Media, which owns the Seven television network and The West Australian newspaper.
The media mogul said he will remain involved with Seven Group in an advisory role.
Seven Group director Terry Davis will takeover from Stokes.
The company also on Wednesday revealed a full-year underlying net profit of $504.6 million, up seven per cent.
Seven shares were down 3.8 per cent to $22.01 at 1053 AEST.
