Channel Seven scandal shows company culture needs rehabilitation [Video]

We are getting beyond the point where the Kerry Stokes-controlled Seven West Media could be described as behaviourally accident-prone. Despite suffering from chronic governance failings, it has seemingly escaped the shareholder backlash that would normally be associated with a decade-long string of scandals.

Seven West is a listed company. So where are the shareholders who normally would be challenging the company’s board and seeking an explanation about a string of reputation concerns?

Not a peep.

Wholesale board churn and the hollowing out of senior management was the punishment dealt to other listed companies such as AMP or Rio Tinto when serious cultural, ethical or governance breaches were uncovered.

Seven West Media, however, is dominated by old-style media mogul Stokes, who is chairman and whose son Ryan also sits on the board.

This past week has generated particularly …