Rupert Murdoch plans to step down as 21st Century Fox CEO

09:17 PM | 11 Jun, 2015
Rupert Murdoch plans to step down as 21st Century Fox CEO
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New York (Web Desk) Rupert Murdoch, the 84-year-old chief executive of 21st Century Fox, is planning to hand over the reins of the media conglomerate to his son James, two people briefed on the plans said Thursday, New York Times reported.

The elder Mr. Murdoch will remain at the company as executive chairman, and his son Lachlan is moving from Australia to Los Angeles to become co-executive chairman, the people, who spoke on condition of anonymity, said.

The exact timing for the changes is unclear, but it is said to be part of Mr. Murdoch’s long-term succession planning with the board. The changes are expected to be discussed at a board meeting next week.