(Image: AAP/Joel Carrett)

Kerry Stokes has a new CEO at Seven West Media. Tim Worner has resigned effective immediately, a day after Seven shares fell to an all-time low of 37.5 cents on Thursday. That fall of 5% (with a more than 2.9% slump in the wider market) took the market value of Seven West to just $596 million. That left the shares down 31% for the year to date, while the broader market has risen sharply.

Seven West Media is a company in real trouble.