New Momentum for Change in Corporate Board Elections

The Nathan Cummings Foundation welcomes recent coverage by the New York Times of the noteworthy achievements of the Shareholder Rights Project, which NCF has partnered with since 2012.  The partnership between the Foundation and the Shareholder Rights Project has helped to persuade a number of companies to declassify their boards, making it easier for shareholders to hold directors accountable.

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News Corporation Board Approves Split of Company

““New blood is always a good thing for a company as it tries to overcome” scandals like the phone hacking crisis in Britain that News Corporation has gone through, said Laura Campos, director of shareholder activities at the Nathan Cummings Foundation, a charitable organization and institutional investor that owns 3,686 shares of News Corporation’s Class B voting shares.”

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Rupert Murdoch survives calls to step down as chairman

At News Corporation’s annual shareholder meeting, nearly two-thirds of unaffiliated shares were voted against the News Corporation Board’s recommendation that Rupert Murdoch retain his vast voting power and hold onto his position as the Company’s Chairman.  While the Nathan Cummings Foundation’s proposal calling for the elimination of the Company’s dual-class capital structure received overwhelming support from unaffiliated shareholders, the Murdoch family, which wields voting control wildly out of proportion with its actual holdings, was able to ensure the proposal’s ultimate defeat.

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