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Things will be a lot more frosty when Ryan Stokes eventually re-enters the Boral boardroom after a self-imposed exile while the Seven Groupâs nil-premium takeover offer is still on foot.
After much to-ing and fro-ing by Boral - and angst from other shareholders after the Kerry Stokes-controlled Seven Group built up a meaningful stake in the troubled building products company - it was decided that only one board seat should be granted to Seven. Seven wanted two seats and a compromise solution was hammered out late last year.
Seven Group boss Ryan Stokes.Â
Janie Barrett
Ryan Stokes got the nod as the Seven representative and became a Boral director. Everyone was supposedly on the same page. Seven wasnât overly keen on Boral keeping its exposure to the North American business and believed it should cut its losses and return to its roots as an Australia-focused business.
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