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03/11/2003
BSkyB meet to appoint Chief Executive
BSkyB senior executives are due to vote later today on the appointment of a successor to the company's outgoing Chief Executive Tony Ball.
However, there is speculation that News Corporation boss Rupert Murdoch, may be prevented from voting for his son James as the row over the appointment of a new Chief Executive BSkyB continues.
It is understood that the articles of association for BSkyB permit any of the directors to table a motion that would block a director from voting if there is material interest. Only the eight independent non-executive directors may vote in the ballot to decide the appointee to the top post.
The senior executives' meeting today will mark a succession dispute that began when current Chief Executive Tony Ball announced his resignation in September.
However, BSkyB shareholders have also questioned the almost certain appointment of 31-year-old James Murdoch to head up the operations at the major satellite broadcasting firm.
James Murdoch is currently a non-executive director of BSkyB and is Chief Executive of Star TV, an Asian satellite broadcaster owned by Rupert Murdoch.
BSkyB shareholders are due to meet at the company's AGM to be held on November 14. One shareholder group, The National Association of Pension Funds, has already stepped into the fray claiming that a former Conservative cabinet minister, Lord St John of Fawsley, cannot be an independent member as he has sat on the board for 12 years.
The NAPF further condemned BSkyB's remuneration report for its "lack of clarity" and for its failure to reveal the details of the entitlement package for the departing Chief Executive Tony Ball.
BSkyB's group finance director Martin Stewart has been tipped as a possible alternative candidate for the post of Chief Executive of the top British pay-TV company.
Rupert Murdoch, the boss of News Corporation, which owns a 34.5 per cent stake in BSkyB, is expected to join the meeting today by video link.
(SP)
However, there is speculation that News Corporation boss Rupert Murdoch, may be prevented from voting for his son James as the row over the appointment of a new Chief Executive BSkyB continues.
It is understood that the articles of association for BSkyB permit any of the directors to table a motion that would block a director from voting if there is material interest. Only the eight independent non-executive directors may vote in the ballot to decide the appointee to the top post.
The senior executives' meeting today will mark a succession dispute that began when current Chief Executive Tony Ball announced his resignation in September.
However, BSkyB shareholders have also questioned the almost certain appointment of 31-year-old James Murdoch to head up the operations at the major satellite broadcasting firm.
James Murdoch is currently a non-executive director of BSkyB and is Chief Executive of Star TV, an Asian satellite broadcaster owned by Rupert Murdoch.
BSkyB shareholders are due to meet at the company's AGM to be held on November 14. One shareholder group, The National Association of Pension Funds, has already stepped into the fray claiming that a former Conservative cabinet minister, Lord St John of Fawsley, cannot be an independent member as he has sat on the board for 12 years.
The NAPF further condemned BSkyB's remuneration report for its "lack of clarity" and for its failure to reveal the details of the entitlement package for the departing Chief Executive Tony Ball.
BSkyB's group finance director Martin Stewart has been tipped as a possible alternative candidate for the post of Chief Executive of the top British pay-TV company.
Rupert Murdoch, the boss of News Corporation, which owns a 34.5 per cent stake in BSkyB, is expected to join the meeting today by video link.
(SP)
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