Seven West Media says Tim Worner will stay as boss as shares fall $100m over scandal

Tim Burrowes

December 19, 2016 4:58

Seven West Media has issued its first public statement on the scandal engulfing CEO Tim Worner after a day in which the company’s shares dropped by 8% as shareholders reacted to revelations that he had an affair with a colleague who later received a six-figure financial settlement.

After an emergency board meeting to discuss the issue, the company has insisted that Worner will remain in his role.

It emerged over the weekend that the media company was in a legal battle with Amber Harrison, former executive assistant to the boss of the company’s magazine arm Pacific Magazines. Harrison went public after negotiations with the company broke down.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.

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3 COMMENTS

Anonymous 20 Dec 16

Surely anyone that costs a company hundreds of thousands of dollars in payouts to ex-girlfriends and then a 100 million dollar nose dive on the ASX has to be shown the door, no matter who he is…?

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Anonymous 20 Dec 16

So typical of Seven. If this was a woman she would be gone! Old school bullies

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Anonymous 21 Dec 16

Now that investors know that TW will remain in place no doubt the shares will recover.

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