Tuesday, 16 October 2012

Large Pension Fund Votes Against Rupert Murdoch and family in News Corp. Board

One of the nation’s largest public pension funds, CalPERS, has voted for initiatives directed towards lessening the control of Murdochs over the media conglomerate. The fund also voted against the re-election of Murdoch’s sons.
One of the nation’s largest public pension funds voted against Rupert Murdoch’s bid for re-election as chairman of the News Corp. board and also voted against the re-election of Murdoch’s sons. The California Public Employees Retirement System, known as CalPERS, declared one day ahead of shareholders meeting in Los Angeles -- that it was “withholding its vote from non-independent director nominees Rupert Murdoch, James Murdoch and Lachlan Murdoch.”

CalPERS will also be supporting a resolution to split the posts of chairman and CEO; the chairman Rupert Murdoch holds the position of CEO. "If the chairman is not the CEO, the board may be able to exercise stronger oversight of management," CalPERs said.

Source: http://cablequest.org/news/international-news/item/634-large-pension-fund-votes-against-rupert-murdoch-and-family-in-news-corp-board.html

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