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
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."
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."
Broadcasting & Cable Newsletter
The smarter way to stay on top of broadcasting and cable industry. Sign up below
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.