Rebekah Brooks Resignation - A Wrong Corporate Governance Move says Media Commentator Julian Bray (01733 345581 ISDN 01733 555319)
"Media Commentator and early Wapping Veteran, Julian Bray who broke the 'Billy the Dust Bins' story 8 July 2011 (belatedly picked up by David Cameron during this weeks PMQ's :- " we got far more out of toffs dustbins that we ever did by hacking phones") on the day of the phone hacking story says: " I've carried below the statement made by James Murdoch to News International staff following the resignation of Rebekah Brooks over the News of the World phone hacking debacle."
"As an experienced City & Financial Services PR man - back in the 80's, I founded Leadenhall Associates and it was in the PRWEEK Top 150 chart within 18 months of the doors opening - my considered reaction is that I don't agree with her resignation being accepted.. She should have been suspended on full pay and moved to another NI centre with orders to assist the Board with any investigation.
"I say this, as in my experience, it makes any corporate governance remedy much harder to quickly and effectively introduce in all areas of the firm, if the gatekeeper of the 'secrets' file is no longer legally tied to the public company.
"You will also find buried deep in Murdochs Statement is the fact that "several other [well placed] executives have left the company." This neatly clears the way for the rapid launch of 'Sin on Sunday', sorry 'SUN on SUNDAY' to fill the vacuum left by the 'Screws' unless of course the Daily Mail hires the rump of the old NOTW team and beats them to it.
"In the several major entity corporate governance issues I have been involved with over last thrity years, I was always told that the independent non-executive directors should take over the investigation and hire in outside legal and communications talent as required.
"What we have here is the worst of all decisions. The ageing major shareholder and his son are taking over the investigation and the symbolic public flogging initially by way of full page ads in all newspapers and the public hanging by way of parliamentary committee. It all conveniently for the coalition governement lets the real political issues fall by the wayside and is the ideal vehicle to revive several political careers. For the word 'Hacking' simply substitute 'MPs' Expenses' it really is too easy."
STATEMENT BY JAMES MURDOCH
James Murdoch: "I am writing to update you on the actions we have been taking as a company to solve the problems at News International relating to the News of the World, in addition to continuing to co-operate fully and actively with the police and settling civil claims.
Earlier today [Friday 15th 2011], Rebekah Brooks resigned from her position as CEO. I understand her decision and I want to thank her for her 22 years of service to the company. She has been one of the outstanding editors of her generation and she can be proud of many accomplishments as an executive. We support her as she takes this step to clear her name.
We have created an independent management and standards committee and I want to emphasise its importance. The committee has direct governance and oversight from News Corporation board members and is codifying standards that will be clear and enforced.
We made the difficult and necessary decision to close the News of the World.
A number of other executives have now left the company.
News Corporation also withdrew its proposal to acquire the shares in BSkyB it does not own. This is a strong signal that our top priority in the UK is to address the issues facing News International.
Looking to the future, I am also pleased to tell you that Tom Mockridge will become CEO of News International. Tom is in London today and will start right away. Tom is a highly respected and accomplished media executive who has served as CEO of Sky Italia since its launch in 2003.
Tom, who has also been in charge of our European television business, started his career as a newspaper journalist in New Zealand and he has held a range of top roles in the newspaper industry. The creation of TG-24, Italy's only truly independent 24 hours news channel, is a credit to Tom's leadership and integrity.
This weekend, News International will run advertisements in all national newspapers. We will apologise to the nation for what has happened. We will follow this up in the future with communications about the actions we have taken to address the wrongdoing that occurred.
We are also sending letters to our commercial partners with an update on the actions we are taking.
Contributor: Media, Aviation, Politics & Travel Expert, Broadcaster Julian Bray SKYPE: Julian.Bray.UK UK Landline: 01733 345581 Mobile: 07944 217476ISDN2 downline +44(0)1733 555 319 (B'cast ISDN Remote Studio) G722/APT-X Dual Codecs Glensound C5
"In the several major entity corporate governance issues I have been involved with over last thrity years, I was always told that the independent non-executive directors should take over the investigation and hire in outside legal and communications talent as required.
"What we have here is the worst of all decisions. The ageing major shareholder and his son are taking over the investigation and the symbolic public flogging initially by way of full page ads in all newspapers and the public hanging by way of parliamentary committee. It all conveniently for the coalition governement lets the real political issues fall by the wayside and is the ideal vehicle to revive several political careers. For the word 'Hacking' simply substitute 'MPs' Expenses' it really is too easy."
STATEMENT BY JAMES MURDOCH
James Murdoch: "I am writing to update you on the actions we have been taking as a company to solve the problems at News International relating to the News of the World, in addition to continuing to co-operate fully and actively with the police and settling civil claims.
Earlier today [Friday 15th 2011], Rebekah Brooks resigned from her position as CEO. I understand her decision and I want to thank her for her 22 years of service to the company. She has been one of the outstanding editors of her generation and she can be proud of many accomplishments as an executive. We support her as she takes this step to clear her name.
We have created an independent management and standards committee and I want to emphasise its importance. The committee has direct governance and oversight from News Corporation board members and is codifying standards that will be clear and enforced.
We made the difficult and necessary decision to close the News of the World.
A number of other executives have now left the company.
News Corporation also withdrew its proposal to acquire the shares in BSkyB it does not own. This is a strong signal that our top priority in the UK is to address the issues facing News International.
Looking to the future, I am also pleased to tell you that Tom Mockridge will become CEO of News International. Tom is in London today and will start right away. Tom is a highly respected and accomplished media executive who has served as CEO of Sky Italia since its launch in 2003.
Tom, who has also been in charge of our European television business, started his career as a newspaper journalist in New Zealand and he has held a range of top roles in the newspaper industry. The creation of TG-24, Italy's only truly independent 24 hours news channel, is a credit to Tom's leadership and integrity.
This weekend, News International will run advertisements in all national newspapers. We will apologise to the nation for what has happened. We will follow this up in the future with communications about the actions we have taken to address the wrongdoing that occurred.
We are also sending letters to our commercial partners with an update on the actions we are taking.
Contributor: Media, Aviation, Politics & Travel Expert, Broadcaster Julian Bray SKYPE: Julian.Bray.UK UK Landline: 01733 345581 Mobile: 07944 217476ISDN2 downline +44(0)1733 555 319 (B'cast ISDN Remote Studio) G722/APT-X Dual Codecs Glensound C5
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