Industry Moves: Lachlan Murdoch Leaves News Corp.; Remains On Board
By Staci D. Kramer - Fri 29 Jul 2005 08:09 AM PST
A stunning development at News Corp. with Lachlan Murdoch, 33, resigning as deputy COO and publisher of the New York Post to return to Australia with his family. He’ll remain on the board. Usually a resignation at that level could be a shrug but not when it’s a potential heir apparent leaving his father’s company. Merrill Lynch analyst Jessica Reif Cohen expects all operating units to now report to Peter Chernin, News Corp. president and COO. Reif Cohen told clients she now sees James Murdoch, who at 32 runs BSkyB, as the eventual heir-apparent but not until after Chernin has his chance to succeed Rupert Murdoch.
Press release.
Posted in: Companies, News Corp., Industry Moves
