Lachlan Murdoch Steps Down From News Corp

The future leadership of Rupert Murdoch’s News Corporation was being debated today, after the iconic media mogul’s son, Lachlan, announced his resignation from the family firm.

Lachlan will leave his position as deputy chief operating officer by 31 August, although he will retain his role as a director, continuing to advise the company in several areas.

Explaining his decision, Lachlan said: “I have today resigned my executive position at News Corporation. I will remain on the board and I am excited about my continued involvement with the Company in a different role.

“I look forward to returning home to Australia with my wife, Sarah, and son, Kalan, in the very near future. I would like especially to thank my father for all he has taught me in business and in life. It is now time for me to apply those lessons to the next phase of my career.”

The move leaves James Murdoch, current chief executive of BSkyB, in prime position to take over his father’s position as chairman and chief executive of News Corp, a move which would see him take overall control of the company’s numerous worldwide assets, including BSkyB, the Fox TV and film network, Star satellite service and several British newspapers.

Commenting on Lachlan’s departure, Rupert Murdoch said: “I am particularly saddened by my son’s decision and thank him for his terrific contribution to the company, and also his agreement to stay on the board and advise us in a number of areas. I have respected the professionalism and integrity that he has exhibited throughout his career at News Corporation.

“His achievements include driving all of his reporting divisions to record profits and the New York Post to its highest-ever circulation. I am grateful that I will continue to have the benefit of Lachlan’s counsel and wisdom in his continued role on the company’s board.”

Lachlan joined News Corp in 1994, serving in various capacities over the last 11 years, most recently as deputy chief operating officer of News Corporation and publisher of the New York Post.

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