Board of directors backs embattled CEO
News Corp.’s board of directors backed Rupert Murdoch’s leadership of the conglom on Wednesday, a day after a scathing U.K. Parliamentary report declared him ”unfit” for the stewardship of a major media company.After meeting, the board “announced its full confidence in Rupert Murdoch’s fitness and support for his continuing to lead News Corp. into the future as its chairman and CEO,” the company said in a statement. “The board based its vote of confidence on Rupert Murdoch’s vision and leadership in building News Corp., his ongoing performance as chairman and CEO and his demonstrated resolve to address the mistakes of the company identified in the Select Committee’s report,” it said. News Corp. and Murdoch responded to the report on Tuesday, acknowledging missteps that exploded last summer into a massive phone hacking scandal. They insisted that the company is doing everything possible to address the problem, and noted that the vote to insert the “unfit” comment in the report was split along party lines.