The succession planning in the Murdoch empire has reached a new stage with dad Rupert promoting sons Lachlan and James to key posts at News Corp and 21st Century Fox.
Lachlan now has the titles of non-executive co-chairman at both companies. James becomes co-chief operating officer at 21st Century Fox.
In a statement the proud dad had this to say about Lachlan’s elevation at News:
“This appointment is a sign of confidence in the growth potential of News Corp. and a recognition of Lachlan’s entrepreneurial leadership and passion for news, digital media and sport.
“In this elevated role, Lachlan will help us lead News Corp. forward as we expand our reach and invest in new technologies and markets around the world. We have many challenges and opportunities ahead, and Lachlan’s strategic thinking and vast knowledge of our businesses will enable me as executive chairman and the company as a whole to deliver the best outcomes on behalf of our stockholders, employees and customers.”
And of the pair of his offspring moving up t 21st Century Fox the old fellow commented:
“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.
“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.”