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Sky TV chief to step down

  • 23-09-2003 9:25am
    #1
    dmeehan
    Registered Users, Registered Users 2 Posts: 2,457 ✭✭✭


    Sky TV chief to step down
    23/09/2003 - 8:24:02 am (breakingnews.ie)

    British satellite broadcaster BSkyB confirmed today that chief executive Tony Ball is to step down after four years at the helm.

    Mr Ball will continue in the role until a successor is appointed, which BSkyB said is likely to be “well before” his contract ends on May 31.

    Since taking over as chief executive, Mr Ball has seen subscriber numbers double to almost seven million with annual revenues now at £3.19bn (€4.58bn).

    But speculation about his departure has been rife in recent weeks with reports this weekend linking BSkyB chairman Rupert Murdoch’s 31-year-old son James to the top job. He is currently in charge of Star TV in Asia.

    Today, BSkyB said its nomination committee, headed by senior independent non-executive director Lord St John of Fawsley, would make recommendations to the BSkyB board on a successor to Mr Ball.

    Rupert Murdoch described Mr Ball, who will also step down as a director of the company, as “one of the outstanding businessmen in Britain”.

    He added: “Under his leadership Sky has successfully brought digital TV to millions of British homes. The company now stands ready to reap the rewards of its investments.”


Comments

  • #2
    eigrod
    Registered Users, Registered Users 2 Posts: 7,686 ✭✭✭eigrod


    The Murdochs get serious......

    BSkyB finance chief Stewart quits


    UK satellite broadcasting giant BSkyB has lost its chief financial officer Martin Stewart just three months after he failed to secure the top job.
    Mr Stewart - who had been in the running to become chief executive after the departure of Tony Ball last year - is leaving "to pursue other interests".

    Rupert Murdoch's son James was appointed chief executive of the pay-TV group in October last year.

    BSkyB has not yet announced a replacement for Mr Stewart.

    Controversy

    The younger Murdoch's appointment was fiercely contested by some shareholders when he took up the post in October.

    They feared that James Murdoch would favour News Corporation's interests and that he was not experienced enough to run a major company.


    Some shareholders contested James Murdoch's appointment
    The City was increasingly concerned that the controversial appointment would lead top executives to exit the company.

    In response, BSkyB set up a new corporate governance committee to look at what changes, if any, were needed in Sky's boardroom.

    "It can be taken as (James Murdoch) stamping his authority all over the firm and getting rid of the last Tony Ball ally, which is Martin Stewart, who is very highly thought of," said one anonymous investment banker in London, speaking to Reuters.

    When Tony Ball quit the firm he was given a £10m payment on the condition that he did not take up a job with one of Sky's rivals.

    But Sky has refused to say whether Mr Stewart would receive a similar sweetener.


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