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TMCNet: James Murdoch quits GSK

[January 27, 2012]

James Murdoch quits GSK

Jan 27, 2012 (London Evening Standard - McClatchy-Tribune Information Services via COMTEX) -- James Murdoch, the under-fire chairman of BSkyB and number three at his father's News Corporation, is quitting the board of British drugs giant GlaxoSmithKline.

GSK Chairman Sir Chris Gent said: "James Murdoch has decided to step down from the board at this year's annual meeting. James has taken this decision to focus on his current duties as non-executive chairman of BSkyB and following his decision to relocate to the United States as chairman and chief executive international of News Corporation." Murdoch only joined the board of GSK in May 2009 and was paid an annual fee of pounds sterling 98,000 as a non-executive director. Non-executive directors usually serve a minimum term of three years. He has come under increasing pressure to stand down from the chairmanship of BSkyB because his reputation is seen as tainted by the News of the World phone hacking scandal.

BSkyB is set to report first-half figures next week, and investors will examine them closely to see if there has been any knock-on effect from the newspapers to the satellite television broadcaster Murdoch recently stood down from the boards of all the UK newspaper companies owned by News International _ Times Newspapers and News Group Newspapers, owner of the Sun.

Three long-serving Glaxo non-executive directors will also step down next year. Sir Crispin Davis, Sir Robert Wilson and Larry Culp have each served on the board for nine years.

___ (c)2012 the London Evening Standard Visit the London Evening Standard at www.thisislondon.co.uk/standard Distributed by MCT Information Services

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