James Murdoch steps down as Chairman of BSkyB

James Murdoch has announced that he will step down as Chairman of BSkyB, the pay-TV and broadband supplier, although he plans to remain on the board.

The news comes after last month's announcement, which saw Murdoch, son of media mogul Rupert, resign as Chairman of News International following the hacking scandal.

According to the BBC's Robert Peston, sources have revealed it was Murdoch's choice to leave and that he made the decision so as to side-step any further criticism.

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Murdoch will be replaced by Nicholas Ferguson, formerly the firm's Deputy Chairman and Senior Independent Non-Executive Director.

Shares in BskyB fell 0.88% to 675p by 13:40.

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