News Corp. said that CFO David DeVoe plans to retire at the end of its fiscal year in June and that John Nallen has been appointed senior executive VP and CFO of 21st Century Fox.
Nallen, who joined News Corp. in 1995, has served as deputy chief financial officer since 2001. He will report to CEO Rupert Murdoch and president Chase Carey. 21st Century Fox will be the company's new name after it spins off its publishing assets.
"John Nallen has been a valued member of News Corp.'s executive management team for the past 18 years," Murdoch said in a statement. "Chase and I, and the entire management team, recognize John as a uniquely talented executive whose leadership, track record and discipline will help us unlock the benefits that the separation will make possible for 21st Century Fox."
DeVoe will maintain a seat on 21st Century Fox's board of directors remain a senior adviser to the company.
"I would like to express my profound gratitude to Dave for his enormous contributions to News Corp. over nearly three decades in which he has played a pivotal role in building the company into a global leader," Murdoch said in a statement. "He is a world-class executive whose stellar financial stewardship can be credited for the enviable financial position we're in at this exciting time in the company's evolution."
"It's been a privilege to serve as the chief financial officer for the world's greatest media company for over 20 years," DeVoe said. "To work with Rupert as he built News Corp. into one of the most dynamic companies of all time was the opportunity of a lifetime."
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