Worner saga: Attention turns to Seven board

Media are not letting up on the saga engulfing Seven CEO Tim Worner with more fallout today.

Much of the focus is now turning towards the Seven West Media board, raising questions over its responsibilities.

The Australian is using Jeff Kennett’s own words on Nine’s 60 Minutes debacle when he wrote that the Nine board “take control and exercise accountability.”

“Every aspect of good governance has and is being ignored and denied by those in positions of authority,” he wrote at the time.

The Herald Sun notes the board has not communicated with shareholders despite losing $98m in share values. Share prices have since recovered some of losses on Tuesday, but investors are still out of pocket by about $30 million.

On Monday the board hooked up via phone to address the crisis, including Ryan Stokes, Jeff Kennett and former iiNet chief executive ­Michael Malone and Kerry Stokes in Colorado.

Fairfax notes the Seven boss has denied having multiple relationships with others named by Amber Harrison but makes goes into sordid detail about the tryst.

Three of the four women have fired off legal letters to media denying the allegations and threatening action if their identities are made public. A letter on behalf of the fourth woman is expected to be sent this week.

Another News Corp article suggests a senior female executive threatened Amber Harrison with long-term unemployment if she refused hush money.

The Australian Financial Review asks if the CEO may have breached his fiduciary duty by allegedly awarding a $10,000 bonus to Amber Harrison.

One article is already speculating names of future candidates, after the Australian Shareholders’ Association called on the board to start planning for succession.

It was even the subject of an item on A Current Affair last night.

So far the Board is backing its man, convinced that the public revelations were nothing it did not already know. Both the board and the chairman have outlined the relationship was unacceptable, while Worner has apologised.

Meanwhile don’t go looking for opinions in the SWM-controlled press in the West – perthnow.com.au and thewest.com.au- the story barely rates a mention.

Not when Margot Robbie is getting hitched.

3 Comments:

  1. Even though it was the top story in yesterday’s Herald Sun some media outlets are completely ignoring the story. Especially the one that takes the high moral ground on everything else and who employs a Seven newsreader as a summer replacement.

  2. Good call! I haven’t read anything locally about the saga and it hasn’t been on the rival news stations. Unless I missed something on Channel 9 news.

    Glad people are seeing how controlling Seven West is here with their newspapers. You start to feel suspicious over everything 7 Perth does. They are connected with so many companies here.

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