Rupert Murdoch Stepping Down as Chairman of Fox, News Corp

Fox Corporation and News Corporation have revealed that Rupert Murdoch is stepping down as chairman of each board, with Lachlan Murdoch to become the sole chair of News Corp and continue as executive chair and CEO of Fox.

Rupert is stepping down as chairman of each board effective as of the upcoming annual general meeting of shareholders of each company in mid-November. He will be appointed chairman emeritus of each company.

“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.”