Gammell tipped to succeed Stokes at Seven
- Published by David Knox
- on
- Filed under News
Kerry Stokes’ right-hand man Peter Gammell, 51 (pictured left), is likely to eventually become chairman of Seven ahead of Stokes’ sons Ryan, 31, and Bryant, 30.
“If I wasn’t here tomorrow, things would go on,” said Stokes (pictured, right). “Who’d be the chair of Seven? Probably Peter (Gammell). We are very close. Peter’s like a brother and the boys (Ryan and Bryant) have learnt a lot from Peter and will continue to learn a lot from him.”
Gammell is the Managing Director of Australian Capital Equity Pty Limited (ACE), the holding company associated with Stokes. He has served as a Director of Seven Network Limited, been Chairman of the Seven Network Finance Committee and led the creation of the Seven Media Group with equity firm Kohlberg Kravis Roberts & Co.
Gammell’s likely succession comes on top of rumours that CEO David Leckie, 52, could retire next year, with Ryan Stokes a possible contender.
Kerry Stokes also acknowledged that Seven’s C7 litigation was a mistake.
“It’s hard to have 20-20 hindsight. You rely on advice independently and our board took that advice. We made a mistake,” he said.
Source: The Australian, Sunday Times.