Boston, MA 06/13/2014 (wallstreetpr) – Chase Carey, the President and Chief Operating Officer of Twenty-First Century Fox Inc (NASDAQ:FOXA) on June 10, 2014 signed two-year contract extension. This marked his exclusive re-entry into the company for another two years. His tenure is now extended till June 2016. However, Chase Carey has been given an option of resigning at the end of 2015, while continuing being a consultant till the end of the contract.
New arrangement and Chase Carey’s position in the company
After the extension of the contract, the new arrangement still kept Chase Carey at a second position in executive level at the Fox. However, there is a flexibility of potential change under Rupert Murdoch, the controlling shareholder as well as Chairman and CEO of Fox. Rupert Murdoch’s son, James Murdoch was promoted to serve the company as co-chief operating officer in March 2014, after having served as the Deputy COO. Nathaniel Brown, the spokesman for Twenty-First Century Fox Inc (NASDAQ:FOXA), confirmed the extension of the contract for Chase Carey.
Resigning President
In the meanwhile, Alvaro Uribe, the former Colombian President of Twenty-First Century Fox Inc (NASDAQ:FOXA) was stepping down from his position in the Board by June end. It has been less than 2 years time since he joined the Board. The company, in this context, said that his resignation was independent of any kind of disagreement with the company. Fox is under consideration for new members of the Board.
Crucial promotions done by Fox so far
In this year only, Lachlan Murdoch was asked to served as the non-executive co-chairman of not just Fox, but also News Corp. The two companies had started walking different paths in the year 2013. Apart from confirming the news about extension of the contract and resignation of the President, Twenty-First Century Fox Inc (NASDAQ:FOXA) did not comment anything else or about new plans of the company.
