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 Whining Bill Dempsey, CFO of Nathan Cummings Foundation to Murdoch: "This kind of governing structure... is at odds with good governance practices here"

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Whining Bill Dempsey, CFO of Nathan Cummings Foundation to Murdoch: "This kind of governing structure... is at odds with good governance practices here" Vide
PostSubject: Whining Bill Dempsey, CFO of Nathan Cummings Foundation to Murdoch: "This kind of governing structure... is at odds with good governance practices here"   Whining Bill Dempsey, CFO of Nathan Cummings Foundation to Murdoch: "This kind of governing structure... is at odds with good governance practices here" Icon_minitimeThu Nov 13, 2014 8:06 pm
Rupert Murdoch has presented eldest son Lachlan to News Corp shareholders as the man who will lead the media company to "a very prosperous and bright future".

However everything was not entirely rosy at the sparsely attended annual general meeting.

The 83-year-old billionaire was criticised by two shareholders on Thursday in Los Angeles for News Corp's dual class capital structure, which gives Murdoch 40 per cent of the voting power.

"This kind of governing structure may be exactly what we'd expect in Cuba or North Korea, but it is at odds with good governance practices here," Bill Dempsey, chief financial officer of the New York-based Nathan Cummings Foundation, told Murdoch.

Australian shareholder activist Stephen Mayne added: "You don't have to hide behind these North Korean structures".

A proposal put forward by the Nathan Cummings Foundation for the elimination of News Corp's dual class capital structure was defeated.

The meeting was held on Murdoch's Fox Studios lot, with shareholders required to meet in a car park off site, undergo a security check, travel by bus to the lot, undergo a second security check, before entering the Zanuck Theatre.

https://au.finance.yahoo.com/news/murdoch-spars-shareholders-us-225914447.html
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Whining Bill Dempsey, CFO of Nathan Cummings Foundation to Murdoch: "This kind of governing structure... is at odds with good governance practices here" PgkowJT
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Whining Bill Dempsey, CFO of Nathan Cummings Foundation to Murdoch: "This kind of governing structure... is at odds with good governance practices here"

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