News Corp. (NWS, NWSA, NWS.AU) said Thursday that Chief
Financial Officer David DeVoe will retire following the planned
separation of the company scheduled for later this month.
The media conglomerate added that it appointed John Nallen as
chief financial officer of 21st Century Fox, the company that will
include News Corp.'s media and entertainment assets following the
split. Mr. Nallen, 56 years old, is the deputy chief financial
officer of News Corp.
The announcement comes weeks before the planned split into two
companies. In addition to 21st Century Fox, the other company will
hold News Corp.'s print media and Australian assets and retain the
company name. Bedi Ajay Singh already had been named the chief
financial officer for the new News Corp.
The 66-year-old Mr. DeVoe, who has served since 1990 as News
Corp.'s chief financial officer and as a director on its board,
will serve as an adviser and board member to 21st Century Fox
following the split.
News Corp. owns Dow Jones & Co., publisher of this newswire
and The Wall Street Journal. News Corp.'s Class A shares, up 62%
over the past 12 months, rose 2.4% Thursday to close at $31.68.
Write to William Launder at William.Launder@wsj.com
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