“A consortium of 18 heavyweight investors is calling for Mr Murdoch to stand down as chairman in the interests of good corporate governance and be replaced by an independent figure who is seen to be acting in the best interests of shareholders.” The Independent, July 20
The investors have filed a resolution to remove Murdoch from power at the October News Corp shareholders meeting. The resolution will accompany those already filed by large investors in the United States.
What upsets the 18? Murdoch and his family have too much control. That control serves the family well, but not the shareholders. Specifically, recent scandals have hurt News Corp performance. Read the rest of this entry »