<!-- Swiftype Variables -->

GOVERNANCE

Institutional investors call for slew of changes at 21st Century Fox

Murdoch 175 px
K. Rupert Murdoch

CalSTRS plans to vote against the election of all 12 directors, including K. Rupert Murdoch, James R. Murdoch and Lachlan K. Murdoch, to the board at Twenty-First Century Fox Inc., according to a statement from the $165.9 billion California State Teachers' Retirement System, West Sacramento.

The $165.2 billion Florida State Board of Administration, Tallahassee, has lined up to vote against 10 directors, supporting only Jacques Nasser and Robert S. Silberman.

The C$129.5 billion (US$124.7 billion) Ontario Teachers' Pension Plan, Toronto, opposes only James Murdoch and Viet Dinh, while supporting the other directors for election.

In addition, all three of the funds support a shareholder proposal filed jointly by the Christian Brothers Investment Services and the C$102.8 billion British Columbia Investment Management Corp., Victoria, calling for an independent chairman of the company.

All three funds also support a shareholder proposal filed by the $400 million Nathan Cummings Foundation, New York, calling for an end of the company's dual-class stock structure and provide for each share to have one vote.

The company opposes both shareholder proposals, according to a statement.

In addition, the three pension funds plan to vote to reject ratifying the company's executive compensation, including Rupert Murdoch's pay as CEO. Mr. Murdoch is also chairman.

Nathaniel Brown, senior vice president-communications of the company, couldn't be reached for comment.

Twenty-First Century Fox's annual meeting is Friday.