Rupert Murdoch is preparing to step down as CEO of 21st Century Fox, according to a CNBC report. His son James Murdoch will take over as CEO of the company and will share the control with his brother Lachlan Murdoch, who will be the executive co-chairman of the company. An announcement is expected in the […]
Rupert Murdoch is preparing to step down as CEO of 21st Century Fox, according to a CNBC report. His son James Murdoch will take over as CEO of the company and will share the control with his brother Lachlan Murdoch, who will be the executive co-chairman of the company.
An announcement is expected in the near term, while it is unclear whether the reorganisation would take place this year or at the start of 2016. Rupert Murdoch will continue to be the executive chairman of Fox.
As part of the management reordering at Fox, COO Chase Carey will step down and take on a yet undefined role as an advisor at the company. Carey was widely expected to exercise his right to an early release from his contract, allowing him to leave the company at the end of this year.
Rupert Murdoch, through the Murdoch Family Trust controls 39.4% of the voting shares at Fox and this is not expected to change much of what he does day to day as Chairman of both Fox and News Corp.
