James Murdoch Still Targeted By Shareholder Groups
Some of the same shareholders who tried to get James Murdoch off of News Corp.’s board of directors aren’t satisfied with Wednesday’s announcement that he’s stepping down as executive chairman of News International.
The Guardian, in fact, reported Wednesday that some have actually stepped up their effort to oust Murdoch from the board.
The UK newspaper cites Christian Brothers Investment Services, the Interfaith Center on Corporate Responsibility, Change To Win and other organizations and individuals who say Rupert Murdoch's son should not retain his seat on the News Corp. board.
“Shareholders are already drafting resolutions ahead of this year’s annual general meeting to step up pressure for change at the media firm,” the Guardian reported.
The younger Murdoch said Wednesday that in the wake of the phone-hacking scandal that has rocked News International, a UK publishing unit of the conglomerate, he would step down from there and move to New York to work on pay-TV and other businesses.
At the annual meeting five months ago, 35 percent of the shareholders voted against James Murdoch’s reelection to the board but, had it not been for his father’s shares, 67 percent would have been against him.