The Wall Street Journal’s Shira Ovide reports that former Hewlett-Packard CEO Mark Hurd will lose his seat on News Corp.’s board after the meeting on October 15 .
Mr. Hurd has been a director at the company since 2008 and, according to a News Corp. securities filing, he won’t stand for re-election this year.
Mr. Hurd left his post as chief executive of HP earlier this month after charges of sexual harassment and some dodgy reporting on his expense forms that seemed to hide a relationship with a contractor working in his office. The board of HP found that Mr. Hurd never violated the company’s sexual-harassment policy.
Chairman and Chief Executive Rupert Murdoch received total compensation valued at $22.7 million. President and Chief Operating Officer Chase Carey’s total compensation was valued at $26 million, including a signing bonus when he was appointed to his post last year.
The board recently voted on a new policy that will tie executive compensation more closely to company performance.