Rupert Murdoch keeps it in the family as he stands down as Fox CEO
Rupert Murdoch is to stand down as Fox CEO within a fortnight after deciding to hand the reigns of his empire to son James, currently the group’s co-chief operating officer.
The management shake-up will see Murdoch remain as executive chairman, a role he will share with eldest son Lachlan, with Fox’s deputy chairman Chase Carey taking on an executive vice-chairman role.
Commenting on his decision to pass on the baton Murdoch said: “It has always been our priority to ensure stable, long-term leadership for the Company, and these appointments achieve that goal.
"Lachlan and James are each talented and accomplished executives and together, we, as shareholders and partners, will strive to take our company to new levels of growth and opportunity at a time of dynamic change in our industry."
Despite the boardroom manoeuvrings Murdoch will remain very much hands-on, retaining his position of seniority within the firm whilst signalling that the day he hands over full control to James Murdoch draws ever closer.