Lachlan Murdoch is looking likely to succeed father Rupert following his appointment as News Corp and 21st Century Fox’s non-executive co-chairman.
After stepping away from News Corp nine years ago to pursue a role at Channel 10 Lachlan Murdoch has now officially stepped down as Ten’s chairman and director to take on the new role.
Rupert Murdoch said the appointment was “a sign of confidence in the potential growth of the company”, adding that Lachlan’s strategic thinking and vast knowledge of the family business would enable the company to deliver the best outcomes on behalf of our stockholders, employees and customers.
Yesterday, just one day after the appointment, Mr Murdoch was hard at work at the Surry Hills-based office. The Australian reported that he was warmly welcomed by staff.
Lachlan Murdoch said he was “grateful to the board of News Corp for this exiting opportunity”, adding that he was “looking forward to working alongside [his] father”.
The news was welcomed by Communications Minister Malcom Turnbull, who said: “It’s a very big job but he’s been training for it all his life. I’m sure he will do very well and I wish him all the best.” Prime Minister Tony Abbott also praised Lachlan’s abilities, saying “It’s a very significant role for a very capable person” and that the appointment demonstrated “the commitment of News Corp to quality print journalism”.
Rupert Murdoch’s youngest son James Murdoch has also been appointed co-chief operating officer of 21st Century Fox. Commentators indicated it was a clear succession plan by Rupert but the family matriarch indicated to staff that he planned to continue leading the company over the next decade.
Twitter has been flooded with people voicing their opinions on Lachlan’s appointment.
– Gimena Gimenez
Photo from Monika Flueckiger Flickr account