UK - The National Association of Pension Funds is backing the appointment of James Murdoch - son of media mogul Rupert Murdoch - as head of BSkyB.
The NAPF’s recommendation on how members should vote at tomorrow’s (Friday) annual general meeting follows intense talks with the media group’s independent directors.
The NAPF said after much consideration, it decided to reiterate its original advice to support the appointment because the company’s corporate governance would “not be improved” by voting the new chief executive off the board.
Independent directors assured the NAPF that the selection process was thorough and hoped this would prevent any further protest at the AGM over failures to meet best practice guidelines.
The NAPF Voting Issues Service accepted that James Murdoch’s appointment had been fair but continued to call for a vote against independent director Lord St John of Fawsley – who led the search for the new chief executive.
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The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.