Murdoch confirms step down as Fox CEO

DetailsMichelle Clancy | 17 June 2015

Twenty-First Century Fox has confirmed the widely reported changes to its leadership, naming Rupert Murdoch and Lachlan Murdoch executive co-chairmen and James Murdoch to the CEO post.

The transition will become effective from 1 July.

Fox also said that Chase Carey, the long-time COO and president, will become executive vice chairman through 30 June 2016.

The company's corporate functions and global pay-TV and film operations will jointly report to Lachlan and James Murdoch.

"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," said 84-year-old exiting chief Rupert Murdoch, in a statement.