An Australian pension fund company has urged its members to axe six News Corporation board members, including James and Lachlan Murdoch.
The Australian Council of Superannuation Investors (ACSI), which is responsible for funds managing $244 billion in assets, has said that certain board members must be removed due to a lack of independence. It has urged its members with News Corp shares to remove the Murdochs and four other board members who are closely connected with the family.
The ACSI’s calls for removal are due to the UK phone hacking scandal, as well as a perception that media mogul Rupert Murdoch has too much dominance in the company.
The ACSI has called for the board members to be replaced with independents.
Meanwhile, a British shareholders company, Pensions Investment Research Consultants, has called for News Corp shareholders to block the reappointment of James Murdoch as director. The company has questioned whether he is the right person to succeed his father Rupert Murdoch.
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