Some people won’t like it, but Rupert Murdoch is here to stay. Reuters reports that Murdoch has been re-elected as chairman of 21st Century Fox, despite the latest round of protests from shareholders.
The opposition to Murdoch was led by Christian Brothers Investment Services and Investment Management Corporation in Canada. They recommended that 21st Century Fox have an independent chair because of “the level of family control, and the influence this may bring to the impending reorganization.”
“Our new company deserves a fresh start” said Timothy Schaler, an adviser for Christian Brothers, at a shareholder meeting. “For the board to ignore such a mandate shows disregard for corporate governance.”