News Corp board has 'full confidence' in Murdoch

News Corp‘s board has declared its ‘full confidence’in chairman and chief executive Rupert Murdoch after a select committee said the media mogul was unfit to run a major international company.

It was the most damning conclusion in the culture committee’s report into phone-hacking but also split MPs along party political lines, with the four Conservative members refusing to back the claim.

News Corp has already dismissed the Murdoch claim as ‘unjustified and highly partisan’and yesterday its board released a statement backing the chairman.

“The board of directors of News Corporation met and announced its full confidence in Rupert Murdoch’s fitness and support for his continuing to lead News Corporation into the future as its chairman and CEO,’it said.

“The board based its vote of confidence on Rupert Murdoch’s vision and leadership in building News Corporation, his ongoing performance as chairman and CEO, and his demonstrated resolve to address the mistakes of the company identified in the select committee’s report.”

Murdoch has criticised from several News Corp shareholders including Christian Brothers Investment Services (CBIS).

Its assistant director of socially responsible investing Julie Tanner was quoted saying:”Considering the lack of independence of the News Corp board, it is not surprising that they would support the status quo.

“News Corp now exemplifies the risks associated with poor corporate governance. The House of Commons Select Committee findings demonstrate the far-reaching impact of News Corp’s corporate governance failures.”

The chairman of the US Senate Committee on Commerce, Science and Transportation, meanwhile, has written to Lord Justice Leveson asking whether his inquiry had uncovered information suggesting News International‘s conduct involved US citizens or violated US laws.

A statement on the committee’s website said Democratic senator Jay Rockefeller’s ‘new request for information comes as the Leveson Inquiry and other British investigations are disclosing large volumes of new information and documents about News International’s widespread misconduct”.

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