The National Association of Pension Funds has urged shareholders in BSkyB, the satellite television broadcaster, to vote down its entire renumeration report and sack non-executive director Lord St John of Fawsley, the former Tory Minister Norman St John Stevas.

BSkyB has so far refused to state whether departing chief executive Tony Ball is likely to receive a huge golden parachute, potentially as much as £10m (€14.6m). James Murdoch, son of the News Corp chairman Rupert Murdoch, is the favourite candidate to replace Ball.