Saturday 22 July 2017

Pressure on Murdoch to step down - Carey poised to take over

Katherine Rushton

Pressure is mounting for Rupert Murdoch to step down as chief executive of News Corporation amid concerns about his handling of the phone hacking crisis and his ability to deal with a grilling by MPs.

Members of the News Corp board yesterday discussed promoting chief operating officer Chase Carey to the chief executive position, although no decision has been made, according to Bloomberg.

It is thought Mr Murdoch would retain his duties as chairman.

Three different News Corp executives who watched Mr Murdoch, who is 80, rehearse for his appearance before the Culture, Media and Support Select Committee this afternoon are said to have raised concerns about how he handled questions.

Mr Murdoch and his son James Murdoch face a grilling by MPs this afternoon. Rebekah Brooks, who stepped down as News International chief executive on Friday, prior to being arrested, will follow.

Bloomberg said the board members met to discuss how the market would react to Mr Carey’s potential elevation, following a serious battering to its share price.

However, independent director Thomas Perkins has denied that any board meeting took place.

He told Associated Press that the board isn’t considering elevating Mr Carey and that Mr Murdoch has the board’s support.

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