America's Institutional Shareholder Services (ISS) has called for Rupert Murdoch to quit as chairman of his film and television business, 21st Century Fox.
The proxy advisory group called for the media mogul and his two sons, James and Lachlan, to step down from the film company's board, advising shareholders to vote against Murdoch's reelection. The call comes after concerns of the company's adoption of a "poison pill". News Corps approved the measure back in May, which is designed to prevent hostile takeovers and is actioned if someone acquires more than 15 per cent of the stock of either New Corps or 21st Century Fox.
ISS also recommended members vote against each member of the board who previously served as a director of the larger News Corp empire, including Murdoch's sons, chief operating officer Chase Carey, and others: Viet Dinh, David DeVoe, Roderick Eddington, James Breyer and Alvaro Uribe.
As first reported by The Telegraph, a spokesman for 21st Century Fox said ISS’s analysis was “completely out of touch with reality”, highlighting the work the named directors have done in strengthening the company.