21st Century Fox announces Board & Executive leadership changes

27 Mar,2014

By a correspondent

 

21st Century Fox has announced that the Board has appointed Lachlan Murdoch Non-Executive Co-Chairman and James Murdoch has been elevated to the position of Co-Chief Operating Officer. The announcement was jointly made by Rupert Murdoch, Chairman and Chief Executive Officer; Chase Carey, President and Chief Operating Officer; and the 21st Century Fox Board of Directors.

 

Rupert Murdoch said, “Lachlan is a strategic and talented executive with a rich knowledge of our businesses. From 1994 to 2007, Lachlan’s executive career at the company spanned the globe, culminating as Deputy Chief Operating Officer responsible for the group’s most important publishing businesses in addition to its vast U.S. television station holdings. I’m very pleased he is returning to a leadership role at the Company, where he will work closely with me, Chase, James, and the rest of the Board of Directors to drive continued growth for years to come.”

 

He continued, “We are pleased to elevate James into this important role alongside my partner and trusted advisor Chase Carey. I’m confident James and Chase will continue to make a great team during this time of immense opportunity. James has done an outstanding job driving our global television businesses and our shareholders, customers, and colleagues will benefit greatly from his many talents. This Company has never been better positioned to capitalize on the increased global demand for quality storytelling and news, and our collective future has never been brighter.”

 

As Non-Executive Co-Chairman, Lachlan Murdoch will work closely with senior management and the rest of the 21st Century Fox Board in developing global strategies and guiding the overall corporate agenda.  Lachlan will divide his time between Sydney and New York.

 

As Co-Chief Operating Officer, James Murdoch will partner with Chase Carey to set the strategic direction and drive momentum across the Company’s global portfolio of assets. In this capacity, James will have direct responsibility for Fox Networks Group, which will now report to him.  James will also have direct responsibility for the strategic and operational development of the Company’s owned and controlled interests in the pay-television Sky and Star services in Europe and Asia, respectively. James will continue to report to Chase Carey.

 

In addition to these appointments, the Company also announced that Peter Rice, Chairman and CEO Fox Networks Group, has agreed to extend his employment agreement.

 

James Murdoch said, “Under Peter Rice’s leadership Fox Networks Group has continued to push creative boundaries across the Company, and has grown tremendously with successful channel launches including Fox Sports 1 and FXX, an increased international footprint and enhanced sports offerings across the world.  Chase and I are delighted Peter is committed to continuing to grow this incredible business and look forward to even more success in the years to come.”

 

 

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