News Corp board supports Murdoch

News Corporation’s board says it places “full confidence” in chairman and CEO Rupert Murdoch, despite MPs saying he is “unfit” to run the company.

News Corp

In a statement the board said it based its vote of confidence on Murdoch’s “vision and leadership” in building News Corp.

It also remarked on his “demonstrated resolve” to address the mistakes of the company, as identified in the Department of Culture, Media and Sport select committee’s report published on 1 May.

The board’s backing, however, is not echoed by some US shareholders, such as Christian Brothers Investment Services (CBIS), who are calling for the company to distance itself from the News International phone hacking scandal.

CBIS says the select committee report demonstrates the “far reaching impact of News Corp’s corporate governance failures” and adds that “shareholders have endured enough”.

An activist group, Citizens for Responsibility and Ethics in Washington (Crew), has also called for regulators to revoke the broadcasting licence News Corp holds for Fox in the US, following the report.

The report was highly critical of Murdoch, his son James and other senior executives at News Corp and News International, saying the company had been guilty of “huge failings of corporate governance” with its handling of the News of the World phone hacking affair.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here