News Corp.’s directors were all re-elected on Friday by company shareholders, including the C$96.4 billion (US$95.3 billion) Ontario Teachers’ Pension Plan, Toronto.
Each director received at least 89% of the shareholder vote, said Reed Nolte, News Corp. senior vice president-investor relations, who reported the proxy voting from Friday’s annual meeting.
Also re-elected was Sir Roderick I. Eddington, chairman of the audit committee, who was opposed by F&C Asset Management in response to reports that the company used shareholder funds to make $2 million in political contributions in the U.S.
“There is no evidence of a political contributions policy or process at News Corp — and the board does not have an explicit oversight role,” Karina Litvack, F&C head of governance and sustainable investment, said in the statement.
Rupert Murdoch, News Corp. chairman and CEO, said at the meeting the company made the political contributions to attempt to advance its business interest, Mr. Nolte said.
Shareholders defeated by a vote of 62% a say-on-pay proposal, calling for an annual non-binding shareholder vote on executive pay, and by a vote of 91% defeated a proposal calling for the company to establish a human rights committee to review company activities. Ontario Teachers voted against both proposals.