James Murdoch Gets Almost 90,000 Pounds as BSkyB Director
British Sky Broadcasting Group Plc (BSY)’s director James Murdoch, who stepped down as chairman in April amid a phone-hacking scandal, received a salary of 89,417 pounds ($145,000) from the pay-TV operator for the 12 months through June.
Murdoch, who is also deputy chief operating officer of BSkyB’s biggest shareholder News Corp., is still a director of the U.K.’s biggest pay-TV operator. His remuneration increased 0.7 percent from a year earlier, according to the company’s annual report published today.
The renumeration of BSkyB Chief Executive Officer Jeremy Darroch rose 7 percent to 2.98 million pounds, including pension contributions, while Chief Financial Officer Andrew Griffith’s emoluments climbed 6.8 percent to 1.52 million pounds.
James Murdoch once ran BSkyB and built it into one of News Corp. (NWSA)’s most profitable businesses. He stepped down as chairman amid a scandal at News Corp.’s U.K. newspaper unit which involved journalists illegally listening to voice mail messages of politicians and celebrities and prompted the New York-based company to drop its 7.8 billion-pound bid for the 61 percent of BSkyB it doesn’t own following opposition from lawmakers.
BSkyB is replacing some independent board members as the company is no longer involved in a bidding process. Two board members were replaced in November and another in June. Another two, Jacques Nasser and Richard Wilson, will retire from the board in the next year, the company said today.
The company’s remuneration committee decided not to increase the base salaries of Darroch and Griffith, according to the statement.
European investors this year pushed back against raises and bonuses for some executives, protesting against what they saw as inappropriately high pay levels. WPP Plc investors in June voted against the remuneration packages of directors, including CEO Martin Sorrell. Andrew Moss stepped down as Aviva Plc CEO shortly after more than 50 percent of shareholders voted against his proposed pay raise.
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