Despite growing opposition from shareholders of British broadcaster BSkyB, as expected, James Murdoch has been re-elected as chairman at the company’s annual meeting. According to the AP, 81.24% of shareholder votes were in favor of retaining Murdoch, with 18.76% going against. Speaking of Murdoch, deputy chairman Nicholas Ferguson told the attendees: “He runs an excellent board. Discussions are open and frank, his chairing is very good. He has put in place strong governance procedures. He has a strong strategic view.” Shareholders had asked for Murdoch’s resignation because of the phone-hacking scandal at News Corp’s UK newspaper publishing division News International, of which Murdoch is also chairman. News Corp owns 39% of BSkyB. The conglomerate was on path to acquiring the remaining 61% earlier this year but had to abandon the attempt in light of the hacking controversy. “The vote is as expected but that doesn’t mean it will not have an impact,” Sanford Bernstein analyst Claudio Aspesi told Reuters today. “Murdoch will have to work hard to get his image back with the institutional investment community to where it was before the scandal broke.” Murdoch also recently survived a vote by News Corp shareholders, many of whom wanted to remove him from the board of directors. He was ultimately re-elected with 65%.
By NANCY TARTAGLIONE, International Editor | Tuesday, 29 November 2011 15:06 UKTags: BSkyB, James Murdoch, News Corp, Phone-Hacking Scandal
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