Seven West Media “Continues To Support” Worner And Keep Shareholders Happy

Seven West Media “Continues To Support” Worner And Keep Shareholders Happy
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Seven West Media this morning has released a statement claiming it will continue to support CEO Tim Worner in the wake of the sex scandal that unfolded in the public eye this week, in addition to going to extra lengths to appease any concerns of shareholders.

The SWM Board claims while it takes allegations against Worner and his relationship with Amber Harrison “very seriously”, following four meetings this week they have decided to back Worner and the decisions made regarding Harrison two years ago when they were made aware of the affair.

While an “independent accounting firm” was appointed to “establish facts behind the misuse of Ms Harrison’s corporate credit card and to produce a comprehensive report,” thus leading to her settlement and termination, SWM has confirmed that to put any shareholder concerns to rest, it will commission a “further independent inquiry” to confirm and establish all facts relative to the matter.

The Board stated it would appoint an independent expert to investigate the matter on behalf of SWM “as soon as they deem it practical”.

Following reports of Worner’s infidelity, which have since been confirmed in a statement from Seven that also stated Worner would continue as CEO, further claims of affairs have bubbled to the surface, with Harrison claiming her only remaining line of defence was to make the relationship public and fight her battle in the public eye.

You can read the statement in full here:

The Board of Seven West Media Limited (SWM) takes allegations being published in relation to its CEO very seriously and has met on four occasions this week to consider the unfolding issues being raised.

The Board continues to support the CEO, and the processes and decisions made based on the information at the time Ms Amber Harrison’s credit card misuse, and subsequently the existence of her relationship with the CEO, was brought to the attention of the company two years ago.

At the time, the Board appointed an independent accounting firm to establish the facts behind the misuse of Ms Harrison’s corporate credit card and to produce a comprehensive report. It was this report that lead to Ms Harrison’s termination and a settlement agreement being reached by the parties.

However, to allay any concerns that our shareholders may have the Board has determined it prudent to commission a further independent inquiry to establish all of the facts so as to confirm that all necessary matters have been and were taken into account.

The Board will work quickly to appoint an appropriate independent expert to undertake the inquiry and to report back to the Board as soon as they deem it practical.

 

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