21st Century Fox announces leadership changes

The company also announced that Peter Rice, chairman and CEO, Fox Networks Group, has agreed to extend his employment agreement.

21st Century Fox has announced that the board has appointed Lachlan Murdoch as non-executive co-chairman and James Murdoch has been elevated to the position of co-chief operating officer. The announcement was jointly made by Rupert Murdoch, chairman and chief executive officer; Chase Carey, president and chief operating officer; and the 21st Century Fox Board of Directors.

As non-executive co-chairman, Lachlan Murdoch will work closely with senior management and the rest of the 21st Century Fox Board in developing global strategies and guiding the overall corporate agenda. Lachlan will divide his time between Sydney and New York.

As co-chief operating officer, James Murdoch will partner with Chase Carey to set the strategic direction and drive momentum across the company's global portfolio of assets. In this capacity, James will have direct responsibility for Fox Networks Group, which will now report to him. James will also have direct responsibility for the strategic and operational development of the company's owned and controlled interests in the pay-television Sky and Star services in Europe and Asia, respectively. James will continue to report to Chase Carey.

Rupert Murdoch says, "Lachlan is a strategic and talented executive with a rich knowledge of our businesses. From 1994 to 2007, Lachlan's executive career at the company spanned the globe, culminating as Deputy Chief Operating Officer responsible for the group's most important publishing businesses in addition to its vast U.S. television station holdings. I'm very pleased he is returning to a leadership role at the Company, where he will work closely with me, Chase, James, and the rest of the Board of Directors to drive continued growth for years to come."

Chase Carey states, "James has been a great partner and in many ways this appointment formalizes the role he's been playing for some time, and acknowledges the contribution he has made in driving our businesses to new heights. Over the course of his 17 years with the company, James has played a key leadership role in almost all of our major television businesses, from Mumbai to Munich to London and most recently the U.S. James has a keen sense of international markets, digital platforms -- as well as programming -- and he brings a modern sensibility to our business which has greatly benefited the Company and our shareholders."

In addition to these appointments, the company also announced that Peter Rice, chairman and CEO, Fox Networks Group, has agreed to extend his employment agreement.