The largest public pension fund in the US, and one of the country’s most influential investors, is stepping up the pressure for a drastic overhaul of the way News Corporation is run as the fallout from Rupert Murdoch‘s appearance before MPs begins.
The California Public Employees’ Retirement System, which manages $237bn (£147bn) of assets and prides itself on its tough corporate governance stance, wants the unusual dual share structure of News Corp to end so it will be able to influence the media company more effectively.
Anne Simpson, the Briton who is in charge of corporate governance at Calpers, said that it was time for change at the company, which gives special voting powers to shares held by the Murdoch family.
Full Story: News Corp investor urges reform to weaken Rupert Murdoch’s influence