| A second large California pension fund has voted against the reelection of News Corp. directors, including the company's powerful chairman, Rupert Murdoch.
The California State Teachers' Retirement System said Monday that it had withheld its votes for the entire slate of nominees to the News Corp. board in advance of the company's annual shareholders meeting in Los Angeles on Friday. CalSTRS owns 6.1 million shares of News Corp. Class A common stock and 35,200 voting shares of News Corp. Class B stock, said Ricardo Duran, the pension fund's spokesman. "As a publicly traded company, we feel that News Corp. should be held to the same governance standards as other companies in our portfolio," Duran said. "The recent scandal has underscored the need for the highest ethical standards at News Corp." |
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