The Fox Corporation and News Corporation (“News Corp”) announced that Rupert Murdoch is stepping down as chairman of each company’s board effective as of the upcoming Annual General Meeting of Shareholders of each company in mid-November.
One of the most powerful men in all of media, the 92-year old Murdoch will become Chairman Emeritus of each company. Following the Annual General Meetings, his son Lachlan Murdoch will become sole Chair of News Corp and continue as Executive Chair and Chief Executive Officer of Fox Corporation.
“On behalf of the FOX and News Corp boards of directors, leadership teams, and all the shareholders who have benefited from his hard work, I congratulate my father on his remarkable 70-year career,” said Lachlan Murdoch. “We thank him for his vision, his pioneering spirit, his steadfast determination, and the enduring legacy he leaves to the companies he founded and countless people he has impacted. We are grateful that he will serve as Chairman Emeritus and know he will continue to provide valued counsel to both companies.”
