As reports are confirmed that Rupert Murdoch, 84, is preparing to pass the torch to his two sons, James, 42, who will become CEO, and Lachlan, 43, who will be co-chief executive chairman, analysts are weighing in on James’ job skills.
James came under enough fire after the hacking scandal that rocked British media that his status as heir apparent came under question, but he seems to be emerging from that dark time to a new era of leadership.
According to Reuters, analysts say that James has a good grasp of the digital world, and understands how it is transforming media. He’s more enthusiastic about courting shareholders than his father is while being less sentimental about assets that are dragging down the stock price, such as the print companies.
Now that the question of succession is settled, analysts are watching closely to see how James and Lachlan work together. Lachlan previously was an executive at News Corp., ending that tenure as Deputy Chief Operating Officer with oversight of several parts of the company, including the Fox Television Stations. Lachlan left that role in 2005 to return to Australia with his wife and young child.
Meanwhile, Chase Carey is expected to step aside, a departure that analysts at MoffettNathanson called “unfortunate,” reported Reuters.
Read More: Reuters
Brief Take: This transition has been speculated on for years, and has been held up several times, with Lachlan returning to Australia in 2005 and James under fire from the hacking scandal. But at 84, it’s finally time for Rupert to make his succession plans clear to stockholders.
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