Fairfax family keen to oust chairman

MELBOURNE: Members of the Fairfax family are trying to eject Fairfax media chairman Ron Walker from the board of the publisher.

Directors John B. Fairfax and son Nicholas have vowed to vote against the re-election of Walker through their company Marinya Media in a bid to renew the group's board.

Fairfax wants Walker to go, saying that after years of under-performance the company needs fresh leadership.

On Thursday, Fairfax and his son said Marinya Media, which holds 9.7 per cent of Fairfax stock, would vote against Walker at Fairfax's annual general meeting in November.

The pair took umbrage at Walker's statement in an interview that he did not intend to step down in 2010.

John B. Fairfax is believed to have the backing of at least two fund managers.

Fat Prophets analyst Greg Fraser said it was not yet clear if the move against Walker would be successful.

"He (Walker) is a very canny political operator, so I don't think you can write him off at this point," he said.

- AAP