We decided to vote against James Murdoch as Chairman of BskyB, as we believe there is a potential for a conflict of interest given his ties with News Corporation (who made a bid for BskyB). Although we note his valuable input to the board, we proposed to the senior independent director that he remain a non-executive director. Over 40% of non-News Corp shareholders did not support the re-election of the chairman.
We also voted against the retention incentives to the CEO and the CFO. Although we acknowledge the strength of the executive team, we feel this award was not necessary for the growth of the company.