Twenty-First Century Fox Inc., shareholders voted with corporate management on all proxy proposals, including electing all 12 directors and ratifying CEO and other top executive compensation as well as defeating a shareholder proposal calling for an independent chairman.
Christian Brothers Investment Services and the C$102.8 billion (US$99.9 billion) British Columbia Investment Management Corp., Victoria, filed the independent chairman proposal.
K. Rupert Murdoch, chairman and CEO, said at the meeting, which was webcast, that the company refused to allow a vote on a shareholder proposal filed by the $400 million Nathan Cummings Foundation, New York, because no one from the foundation appeared to present the proposal. It called for an end of the company's dual-class stock structure and a provision for each share to have one vote.
Foundation representatives couldn't be reached for comment.
Mr. Murdoch announced all the voting results. No tally of the vote was available.
Mr. Murdoch, James R. Murdoch and Lachlan K. Murdoch were among the directors elected.
The $165.9 billion California State Teachers' Retirement System, West Sacramento, voted against all 12 directors.
The $165.2 billion Florida State Board of Administration, Tallahassee, voted against 10 directors, supporting only Jacques Nasser and Robert S. Silberman.
The C$129.5 billion Ontario Teachers' Pension Plan, Toronto, opposed only James Murdoch and Viet Dinh, while supporting the other directors for election.
All three funds supported the independent chairman proposal and voted against ratifying the executive compensation.
