The next generation of Murdochs are taking over at 21st Century Fox. Here are memos from Rupert Murdoch and Chase Carey to Fox staffers on the announcement of James and Lachlan Murdoch’s appointments as CEO and executive co-chairman, respectively, of the media empire that Rupert built.
21st Century Fox — Office of Rupert Murdoch
Today our Board of Directors announced a series of changes to our senior executive team that advance our long-term plan to ensure a vibrant future for this great Company that we have all built together. These changes will take effect on July 1, 2015. The press release is attached.
Chase Carey, my close friend and trusted advisor, will become Executive Vice Chairman and will serve in that role through June 30, 2016. Chase is a gifted executive and transformative leader and someone I am privileged to call my partner for nearly 30 years.
My sons, Lachlan and James, have been appointed Executive Co-Chairman and CEO, respectively. Lachlan and James understand the opportunities that exist in advancing the way in which our stories reach consumers, and the Board and I are energized by their vision and their leadership. I look forward to working with Chase in supporting Lachlan and James as they take on these new roles.
The appointments announced today underscore what has long been a hallmark of our Company — our unwavering embrace of the future. For me, looking forward has always been driven by curiosity, by the desire to innovate, and by the sheer excitement of what lies around the corner. I am confident that our new leadership structure will continue and build on our Company’s values. It will also further position us to realize the immense growth opportunities that exist for our businesses, for our creative talent, and for all of you, our esteemed colleagues.
Regards, Rupert Murdoch
21st Century Fox — Office of Chase Carey
In light of the management changes we announced this afternoon, I wanted to take a minute to share a few thoughts and reflections.
First, I couldn’t be more excited about the future of 21st Century Fox. Rupert will continue to provide the leadership and vision that distinguishes us while Lachlan and James will bring new energy and passion to drive us forward. We have made great strides in the last few years, however, our best years are ahead of us and I truly believe we are uniquely positioned to take our business to an entirely new level in the next few years.
On a personal note, I want to say what a privilege it has been to work with all of you over both the recent and distant past. I am not departing so this is not a farewell, however, my role will change which leads to unavoidable reflection. When I joined Fox in January, 1988 we were a struggling studio with a handful of TV stations and a two-night-a-week network. We had no news, sports, cable networks, satellite platforms, or international television operations. The business we built at 21st Century Fox over the subsequent years is attributable to one thing — the wonderfully talented team of executives and individuals that make up our company. I cannot thank you enough for all you have done. We built an entrepreneurial spirit that was willing to take intelligent risks to build businesses as others shied away. It is that spirit that will continue to define us as we go forward.
Finally, I want to thank Rupert for the opportunity of a lifetime and for the never-ending support he has offered me as a mentor, colleague and friend. I look forward to continuing to work with him as well as Lachlan, James, and all of you as we lead 21st Century Fox to new heights.