The Commons Culture, Media and Sport Committee heard evidence from former News International executive chairman Les Hinton as part of its continuing inquiry on phone hacking on 24 October 2011.
Mr Hinton spoke to MPs via video link from New York.
He said there was "no reason" why James Murdoch, his successor as executive chairman, should resign.
Mr Hinton acknowledged that some of the evidence previously given to the committee by News International (NI) executives, when they insisted that hacking at the Sunday tabloid was limited to a single rogue reporter, had turned out to be "not accurate".
But he challenged MPs' suggestions that this meant executives had been "untruthful", insisting that events had become clear only over the past couple of years and the full picture of what happened was still not known.