The fallout from the phone hacking scandal finally claimed James Murdoch. We had been wondering for months when it would happen, and now that day is here: According to The Guardian, Murdoch is stepping down as Executive Chairman of News International.
Murdoch will, however, continue on at News Corp., but his days among newspapers are over. We’re guessing that Murdoch isn’t too upset about this move.
Tom Mockridge, CEO of News International, will be continuing on at News International, effectively taking James’ place.
News Corporation issued the following statement about Murdoch’s resignation:
News Corporation today announced that, following his relocation to the company’s headquarters in New York, James Murdoch, deputy chief operating officer, has relinquished his position as executive chairman of News International, its UK publishing unit. Tom Mockridge, chief executive officer of News International, will continue in his post and will report to News Corporation president and COO Chase Carey.
“We are all grateful for James’ leadership at News International and across Europe and Asia, where he has made lasting contributions to the group’s strategy in paid digital content and its efforts to improve and enhance governance programs,” said Rupert Murdoch, chairman and chief executive officer, News Corporation. “He has demonstrated leadership and continues to create great value at Star TV, Sky Deutschland, Sky Italia, and BSkyB. Now that he has moved to New York, James will continue to assume a variety of essential corporate leadership mandates, with particular focus on important pay-TV businesses and broader international operations.”
“I deeply appreciate the dedication of my many talented colleagues at News International who work tirelessly to inform the public and am confident about the tremendous momentum we have achieved under the leadership of my father and Tom Mockridge,” said James Murdoch. “With the successful launch of the Sun on Sunday and new business practices in place across all titles, News International is now in a strong position to build on its successes in the future. As deputy chief operating Officer, I look forward to expanding my commitment to News Corporation’s international television businesses and other key initiatives across the company.”