BSkyB To Launch Global Search For New Chief Executive
BSkyB is launching a global search to find a new chief executive, amid fierce speculation that Rupert Murdoch intends to install his youngest son in the position.
The satellite broadcaster’s nomination committee is understood to have called in head-hunters to draw up a list of potential candidates to replace Tony Ball, who announced on Tuesday that he intends to step down after four years in the role (see BSkyB Confirms Ball To Step Down As Chief Executive).
Head of the nomination committee, Lord St John of Fawsley, insisted that the search for a new chief executive would be fair and impartial. He said that his aim was to find the “best person” for the job.
Lord St John told The Times: “I don’t know whether James Murdoch is going to be put forward or not. I read that he is the favourite candidate, but there isn’t any favourite candidate because we haven’t got any candidates yet.”
BSkyB came under pressure yesterday from ten of its largest institutional shareholders, who reportedly warned the satellite broadcaster that they will not accept the unchallenged appointment of James Murdoch as chief executive (see BSkyB Warned By Shareholders Over Ball Replacement).
The shareholders called an emergency meeting amid concerns over possible nepotism should BSkyB chairman, Rupert Murdoch, attempt to put his 30 year-old son in charge of the company. James Murdoch became a non-executive director of BSkyB earlier this year and is currently head of News Corporation’s Star TV subsidiary in Asia.
Another major shareholder, The National Association Of Pension Funds, is also understood to have entered the debate over BSkyB’s succession plans. The NAPF intends to hold meetings with the satellite broadcaster over the next few weeks to seek clarification that it will conduct an extensive search for its next chief executive.
It is understood that the nomination committee will make a recommendation on the appointment to BSkyB’s board for a possible decision before the company’s annual meeting, which is set to take place on 14 November.
Earlier this month it was reported that BSkyB is planning to restructure its pricing scheme in an attempt to increase the number of people buying its Sky Plus service and boost its revenue per user figures (see BSkyB Restructures Pricing Scheme To Boost Sky Plus).
BSkyB: 0207 705 3000 www.sky.com
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