msnbc.com
updated 7/29/2005 12:24:06 PM ET 2005-07-29T16:24:06

News Corporation chairman and chief executive officer Mr. Rupert Murdoch today announced that the Company’s deputy chief operating officer, Mr. Lachlan Murdoch, has decided to resign from his executive roles with the Company, effective August 31, 2005.

He will remain a director of News Corporation and will advise the Company in a number of areas.

Lachlan Murdoch said: “I have today resigned my executive position at News Corporation. I will remain on the board and I am excited about my continued involvement with the Company in a different role.

“I look forward to returning home to Australia with my wife, Sarah, and son, Kalan, in the very near future. I would like especially to thank my father for all he has taught me in business and in life. It is now time for me to apply those lessons to the next phase of my career.”

Rupert Murdoch said: “I am particularly saddened by my son’s decision and thank him for his terrific contribution to the company, and also his agreement to stay on the board and advise us in a number of areas. I have respected the professionalism and integrity that he has exhibited throughout his career at News Corporation.

“His achievements include driving all of his reporting divisions to record profits and the New York Post to its highest-ever circulation. I am grateful that I will continue to have the benefit of Lachlan’s counsel and wisdom in his continued role on the Company’s board.”

Mr. Murdoch joined the Company in 1994 and has served in various capacities, most recently as Deputy Chief Operating Officer of News Corporation and Publisher of the New York Post.

Source: News Corp.

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