Calpers Will Not Re-Elect Rupert Murdoch to News Corp. Board
The U.S. public pension fund said Friday that it will withhold its votes of Murdoch and his sons James and Lachlan to the company's board of directors.
Calpers, or the California Public Employees' Retirement System, said on Friday that it would not vote Rupert Murdoch and his sons James and Lachlan to the board of directors at News Corp., Reuters reports.
It also said that it will be withholding votes for Arthur Siskind and Andrew Knight to protest the company's dual class voting structure.
Calpers, which owns about 1.45 million News Corp. shares, noted that it wants to "rejuvenate" the board with independent directors.
But Calpers isn't the only company voting against the Murdochs. Hermes Equity Ownership Services also urged investors on Friday to follow suit and vote against re-electing the Murdochs, Siskind and Knight to the board.
News Corp.'s yearly meeting -- the company currently clouded in the middle of a phone-hacking scandal -- is set for Oct. 21.