Little Murdoch quits

by YankeeJim | April 3, 2012 at 05:42 am

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To me James Murdoch seemed to be a smart weasel.

He conveyed one who would be brilliant as to evade capture. I would take daddy’s money and run.

“James Murdoch Stands Down As Chairman Of BSkyB

Huffington Post UK | By Michael Rundle Posted: 3/04/2012 13:05 Updated: 3/04/2012 14:57

James Murdoch stood down as chairman of broadcaster BSkyB on Tuesday amid an ongoing investigation into phone hacking at News International, saying he did not want to be "a lightning rod" for the company.

He will continue on as non-executive director, News Corp said.

Murdoch will be succeeded as chairman by Nicholas Ferguson, who was appointed as a director of the company in June 2004 and previously served as deputy chairman.

Murdoch said in a statement: "I have been privileged to serve first as chief Executive and then as chairman of this outstanding company and I am proud of what we have achieved over this period."

"As attention continues to be paid to past events at News International, I am determined that the interests of BSkyB should not be undermined by matters outside the scope of this company. I am aware that my role as chairman could become a lightning rod for BSkyB and I believe that my resignation will help to ensure that there is no false conflation with events at a separate organisation."

Rupert Murdoch said in a joint statement with News Corp COO Chase Carey: "We are grateful for James Murdoch's successful leadership of BSkyB. He has played a major role in propelling the company into the market-leading position it enjoys today - and in the process has been instrumental in creating substantial value for News Corporation shareholders.

"We look forward to BSkyB's continued growth under the leadership of Nicholas Ferguson and Jeremy Darroch and to James' continued substantial contributions at News Corporation."

The development comes just over one month after Murdoch stepped down asExecutive Chair Of News International saying he would focus on "pay-TV businesses and broader international operations". He also recently stepped down from the boards of auctioneer Sotheby's and pharmaceutical firm GlaxoSmithKline.

Murdoch serves as deputy chief operating officer at News Corp, BSkyB's controlling shareholder with a 39% stake and the owner of News International.

NI publishes The Times, the Sunday Times and the Sun, and published the News of the World before it was shut down.”