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BSKYB appoints Rupert Murdoch`s son as new head
London, Nov 04: British Satellite Broadcaster BSKYB, 35-percent owned by Rupert Murdoch, said it had named the media tycoon`s younger son James as its new head, a move that risks a backlash from major shareholders.
London, Nov 04: British Satellite Broadcaster BSKYB, 35-percent owned by Rupert Murdoch, said it had named the media tycoon's younger son James as its new head, a move that risks a backlash from major shareholders.
"James Murdoch was appointed following the unanimous recommendation of a four-member nomination committee of
non-executive board members," the company said in a statement
yesterday.
James Murdoch, 30, had been widely touted to replace the highly successful chief executive Tony Ball, who announced in September that he was stepping down. However, groups representing institutional shareholders have questioned whether the relatively inexperienced younger Murdoch is the right person for the job.
But according to press reports the succession had been sealed even before the board met earlier yesterday.
The nomination committee stressed it had found a solid candidate to take the reins at the company. "After a rigorous search and nomination process, we are pleased, having considered a wide group of excellent candidates, to have found in James Murdoch a candidate in whom we are unanimously confident can lead sky forward to greater success," it said.
Rupert Murdoch was equally pleased with the decision and said in the statement: "The board and I are pleased that the nomination committee has completed its task and it is unanimous in its conviction that James is the right man for this job."
Bureau Report
James Murdoch, 30, had been widely touted to replace the highly successful chief executive Tony Ball, who announced in September that he was stepping down. However, groups representing institutional shareholders have questioned whether the relatively inexperienced younger Murdoch is the right person for the job.
But according to press reports the succession had been sealed even before the board met earlier yesterday.
The nomination committee stressed it had found a solid candidate to take the reins at the company. "After a rigorous search and nomination process, we are pleased, having considered a wide group of excellent candidates, to have found in James Murdoch a candidate in whom we are unanimously confident can lead sky forward to greater success," it said.
Rupert Murdoch was equally pleased with the decision and said in the statement: "The board and I are pleased that the nomination committee has completed its task and it is unanimous in its conviction that James is the right man for this job."
Bureau Report