Murdoch appointed BSkyB CEO
James Murdoch, son of Newscorp chairman Rupert Murdoch, has survived shareholder protests to be appointed chief executive of BSkyB. The fate of auditors Deloitte and other non-executive appointments is not yet known.
Link: Deloitte’s BSkyB role in balance
The meeting commenced at 11:30am, and is still ongoing.
According to reports, Murdoch’s appointment was backed by ‘big’ shareholders who voted to re-appoint him, but a hand count at the meeting went against him.
Fifteen minutes into the meeting, Rupert Murdoch ordered a complete review of all BSkyB’s remuneration policies, including the pay package of James Murdoch.
Both Legal & General and the National Association of Pension Funds have voted against the remuneration report, over the company’s unwillingness to disclose information about possible non-contractual termination payments to former chief executive Tony Ball.
Morley Fund Managers, which owns a 1.3% stake in BSkyB, is calling for Deloitte to be dumped as auditors over conflicts of interest concerns.
The future of Lord St John of Fawsley, the director who led the selection process that appointed Murdoch, is still uncertain.