BSkyB to announce CEO today, James Murdoch set to take reins

LONDON: Over a month of speculation on the appointment of the next CEO of British pay television operator BskyB looks likely to come to an end today.

The company is scheduled to announce its decision today and BSkyB chairman Rupert Murdoch appears likely to get his way and have his son James take over the reins. Previous CEO Tony Ball stepped down in September.

A BSkyB board meeting is to be held at 2 pm GMT today after which the official announcement of Ball's replacement will reportedly be made.

Rupert Murdoch last month publicly backed his son as the best candidate to take over from Tony Ball, who resigned in September. Murdoch Jr. is currently a member of BSkyB's board. UK investors were concerned that his inexperience might hinder the company's growth.

James Murdoch is presently CEO of News Corp's Asian arm the Star Group. News Corp owns a 35.4 per cent stake in the pay TV operator and Murdoch senior already serves as BSkyB's chairman while James is a director on the company board.

Only the BSkyB's eight independent non-executive directors would be allowed to vote on who becomes the new chief executive, Britain's Sunday Telegraph said. Rupert Murdoch and four other non-executive directors, who also work for News Corp, will not be able to vote.

BSkyB holds its annual general meeting in Britain on 14 November and it has been Rupert Murdoch's stated desire to see James in the driver's seat before that.

BSkyB is now on the brink of its next challenge as a maturing company. Reports indicate that the new appointment follows Murdoch's tactics of changing leaders when a company reaches a new stage of development.

But the BSkyB CEO tale is not expected to all go Murdoch's way. The Independent pointed to mounting speculation that Rupert Murdoch might sacrifice his own position as chairman to assuage angry shareholders and keep the City on side.

Whether Murdoch will step down will be known soon enough. One person who will almost certainly have to go is is Lord St John, the former Conservative minister who is up for re-election.

According to The Independent , a powerful shareholder group, the National Association of Pension Funds (NAPF) is convinced that after 12 years on the Sky board, Lord St John cannot be considered independent. The newspapre quotes the NAPF as saying it "would have expected such a fundamentally important task (as filling the chief executive job) to be led by a director whose independence was not open to question."

In its report on the company, the NAPF also urged BSkyB to appoint new independent non-executive directors and recommended that shareholders also vote against the company's remuneration report at the 14 November AGM. 

Latest Reads
US$ 4.5 bn expected from IPL rights; SC recommends accounts scrutiny

The Supreme Court on Friday froze all financial transactions between the BCCI and state cricket associations by directing the apex body not to disburse any funds till it resolves to abide by the Justice RM Lodha panel recommendations on reforms by 3 December . The top court ordered that none of...

Television TV Channels Sports
TVS Tyres is co-presenter for Asian Champions Trophy 2016

Continuing its strong connect with sports, TVS Tyres has associated with Asian Champions Trophy 2016 by becoming the co-presenter. The Asian Champions Trophy is one of the premier hockey tournaments, a much sought after annual international competition promising some great hockey action. This...

Television TV Channels Sports
Q2-17: Zee Learn declares maiden interim dividend

The board of directors of the Essel group’s education company Zee Learn Limited (ZLL) have declared a first time ever dividend of 5 percent per equity share of Re 1 each for the quarter ended 30 September 2016 (Q2-17, current quarter).

Television TV Channels Factual & Documentary
Whether BARC action can stop unethical practices?

MUMBAI: Can businesses and industries practise their art of selling fairly although they have 'Fair Practices' training during academic courses, workshops and several ISO and other certifications? There seems to be the fear of the lawman, and not the law in India. If the traffic cop is watching,...

Television TV Channels Viewership
TV Superhighway: beIN, Yaddo, AfricaXP have joined us, says Magine CEO Ambuj Goyal

CANNES; Magine has secured partnerships with four of the industry’s most exciting sports, documentary and entertainment content providers. Partnerships with beIN, the international media group and owner of MIRAMAX; Yaddo, the new documentary streaming service headed up by former head of The BBC’s...

Television TV Channels Factual & Documentary
Colors emerges strong on strength of Naagin I & II

MUMBAI: One of the top rated shows Naagin Season 2 helped Colors reach a top-ranking position.

Television TV Channels GECs
Pakistan Broadcasters Association to oppose PEMRA Indian content ban

MUMBAI: The Pakistan Electronic Media Regulatory Authority (PEMRA) shocked both Pakistan and Indian broadcasters when it issued an order blanking out  all Indian content from Pakistan’s television channels on 19 October.

Television TV Channels GECs
Sony Pix to telecast 'Jurassic World' on 22 October

Sony Pix will take the viewers on a thrilling, adventurous journey with cloned dinosaurs in their Billion Dollar Premiere property. The channel plans to air Jurassic World on 22 October at 1 pm and 9 pm.

Television TV Channels English Entertainment
Sony AXN scripts deal with Pinewood; buys stake in SVOD service Hopster

Folks at Sony Pictures Television (SPT) are in a celebratory mood. Not only has it signed a six-series deal with Pinewood Television but has also acquired a minority stake in the London-based video subscription service for kids content - Hopster.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories