Oil and gas man Don Voelte will step down as CEO of Seven Group Holdings, with Kerry Stokes' son, Ryan Stokes, to take the reins from September.
Voelte, ex-CEO of Woodside Petroleum, has informed the board that he will step down on August 31 in order to spend more time with his family in the US.
While he will remain in a consultative role, it is thought he will focus on the group's energy spinoff, SGH Energy.
Seven Group Holdings incorporates investments in WA News, Network Seven, WesTrac, and SGH Energy.
Chief operating officer at the group, Ryan Stokes, will be named as Voelte's replacement at the top.
Stokes has held various executive positions across the group over a 15-year period, and is currently a director at Seven West Media and WesTrac.
In a release to the market, Caterpillar Inc chairman Doug Oberhelman said Stokes' experience with the WesTrac unit would serve the company well as it moved forward.
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