James Murdoch Steps Down as Sky Chairman

LONDON: James Murdoch is stepping down as the chairman of BSkyB, with Nicholas Ferguson tapped as his successor and Tom Mockridge named as deputy chairman.

Murdoch will remain a non-executive director of the British satellite platform that he used to run as chief executive. Ferguson, who has been a director since 2004 and previously served as deputy chairman and senior independent non-executive director, takes over the chairman’s role. Mockridge, a board member since 2009, takes over a deputy chairman.

In a letter to the board, Murdoch said he was proud of what the platform has achieved during his tenure as chief executive and then chairman. "As attention continues to be paid to past events at News International, I am determined that the interests of BSkyB should not be undermined by matters outside the scope of this company." He added: "I am aware that my role as chairman could become a lightning rod for BSkyB and I believe that my resignation will help to ensure that there is no false conflation with events at a separate organization."

Murdoch concluded, "BSkyB is a great success story and its positive contribution to British broadcasting, and to the country more broadly, should not be questioned. With a strong board and outstanding management team, I am confident that the company will achieve even more in the future."

In a joint statement, News Corporation chairman and CEO Rupert Murdoch and president and COO Chase Carey said, "We are grateful for James Murdoch’s successful leadership of BSkyB. He has played a major role in propelling the company into the market-leading position it enjoys today—and in the process has been instrumental in creating substantial value for News Corporation shareholders. We look forward to BSkyB’s continued growth under the leadership of Nicholas Ferguson and Jeremy Darroch and to James’ continued substantial contributions at News Corporation.”