NewsCorp non-execs in line for huge pay rises
Rupert Murdoch's News Corporation is seeking shareholder approval to almost triple the salaries of its eight non-executive directors.
The US-based company, which owns a 35.4% stake in BskyB, wants to raise their salaries from $450,000 (£269,000) to $1.2m (£718,000), and those that could benefit include Rod Eddington, chief executive of British Airways and Graham Kraehe, chairman of BHP Steel.
News of this planned increase came in a note to shareholders issued ahead of the company’s agm later this month, and comes at a time when excessive pay for directors has come under increasing attack.
Last month, Richard Grasso, chief executive of the New York Stock Exchange, resigned after it was revealed that he was to receive a $140m pay package.