Rupert Murdoch will soon step down as CEO of 21st Century Fox

Rupert Murdoch, the chief executing officer of 21st Century Fox is planning to give up his role in the company to make way for his sons.

Written by: Rishabh Chakravorty

Updated: June 11, 2015, 9:56 PM IST

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Rupert Murdoch, the chief executing officer of 21st Century Fox is planning to give up his role in the company to make way for his son, James to fill in his shoes. Rupert Murdoch will stay in the company as the executive chairman as his son Lachlan Murdoch will take the reins of the company as co-executive chairman.

The plans that have been made public will be presented to the board of directors in the next board meeting but given the pull that Rupert Murdoch has, there doesn’t seem to be much room for a surprise. The news was first reported by CNBC and a Fox spokesperson, Nathaniel Brown said that the matter of succession would be one of the set agendas at their upcoming and scheduled board meeting which is a regular affair.

Rupert Murdoch had laid the plans for the succession of his sons in March 2014. James was appointed as the co-CEO as Lachlah Murdoch was made the non executive co-chairman of News Corporation and 21st Century Fox as he returned to help his father after a nine year stint away.