People Of WFIT
Wed May 2, 2012
News Corp. Board Gives Murdoch Its Vote Of Confidence
A little more than a day after a committee of British parliamentarians said Rupert Murdoch was "not a fit person" to lead a major international company, the board of News Corp. said they still backed Murdoch's leadership.
NPR's David Folkenflik reports that the board issued the statement of suport unanimously.
"The Board based its vote of confidence on Rupert Murdoch's vision and leadership in building News Corporation, his ongoing performance as Chairman and CEO, and his demonstrated resolve to address the mistakes of the Company identified in the Select Committee's report," the company said in a statement, according to Reuters.
"The fact that it has taken nearly 36 hours since the publication of the Select Committee's report to back Murdoch had already raised speculation the board was undecided on how to approach the sensitive matter.
"But one long-time News Corp watcher on Wall Street said the board, which has been under pressure since the scandal broke last year to show its independence from Murdoch, would have been reluctant to be seen giving a knee-jerk reaction to the critical 85-page report."