Rupert Murdoch, 92, announced he would be transitioning to a new position on Thursday; he will be moving away from his roles as Chair of Fox Corporation and Executive Chairman of News Corp.
He will now take on the role of “Chairman Emeritus.” Murdoch’s son Lachlan will become the sole chairman of both companies; he informed colleagues in a letter on Thursday.
“I am writing to let you all know that I have decided to transition to the role of Chairman Emeritus at Fox and News,” Murdoch wrote. “For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan who will become sole Chairman of both companies. Neither excessive pride nor false humility are admirable qualities. But I am truly proud of what we have achieved collectively through the decades, and I owe much to my colleagues, whose contributions to our success have sometimes been unseen outside the company but are deeply appreciated by me.”
“Whether the truck drivers distributing our papers, the cleaners who toil when we have left the office, the assistants who support us or the skilled operators behind the cameras or the computer code, we would be less successful and have less positive impact on society without your day-after-day dedication. Our companies are in robust health, as am I. Our opportunities far exceed our commercial challenges. We have every reason to be optimistic about the coming years – I certainly am, and plan to be here to participate in them.”
“In my new role, I can guarantee you that I will be involved every day in the contest of ideas,” he wrote.
Lachlan Murdoch made a statement as well.
“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.”
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Rupert Murdoch announces transition to new role of Chairman Emeritus of Fox Corporation and News Corp.https://t.co/tIrbwtUo60
— Fox News (@FoxNews) September 21, 2023