In a move seen as formalizing the next steps in a succession plan for the leadership of News Corp., the company's board named Lachlan Murdoch non-executive co-chairman.
“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,” stated Lachlan's father and current executive chairman Rupert Murdoch.
“I'm delighted he'll be serving in this elevated capacity,” added current CEO Robert Thomson.
The move apparently leapfrogs Lachlan, 42, over his brother James, 41, as the heir apparent to ultimately run the multimedia conglomerate. Rupert Murdoch, who parlayed his family's Australian newspaper operations into one of the biggest and most powerful media companies in the world, is 83.
Lachlan most recently served as director of News Corp and 21st Century Fox, executive chairman of NOVA Entertainment Group, executive chairman of Illyria Pty Ltd, and a director of Sydney’s Museum of Contemporary Art. Until recently, he also served as non-executive chairman of Ten Network Holdings.
James becomes co-COO of 21st Century Fox.