New generation of Murdochs takes charge

Lachlan and James Murdoch have been anointed in the two top management positions at 21st Century Fox after a board meeting yesterday confirmed an executive re-shuffle that further solidifies the Murdoch family’s control of the company.

Under the changes, Lachlan will join his father, Rupert, as executive co-chairman, while his younger brother, James, will take over from Mr Murdoch senior as chief executive.

Mr Murdoch was formerly chairman and chief executive, while James was co-chief operating officer with president of the company, Chase Carey. Lachlan was co-chairman.

Mr Carey, who was expected to not renew his contract with Fox, will remain with the company as executive vice chairman for 12 months.

The moves will come into effect on July 1.

There also are expectations Lachlan could be appointed executive co-chairman at News Corp at a board meeting in August.

Mr Murdoch said in a statement on the Fox changes that it had always been the company’s goal to ensure stable, long-term leadership. “These appointments achieve that goal,’’ he said.

‘‘Lachlan and James are each talented and accomplished executives and together we, as shareholders and partners, will strive to take our company to new levels of growth and opportunity at a time of dynamic change in our industry.’’

Both Lachlan and James released a statement that praised Mr Carey’s contribution at Fox. ‘‘We are grateful to Chase for being the leader and partner that he has been, and we are both delighted that his wisdom and sure-handedness will continue to serve 21st Century Fox,” they said.. “We are also grateful to the board for providing us the opportunity to lead this great company.’’

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