Peter Chernin To Exit News Corp.
February 24, 2009 at 5:07 AM (PT)
NEWS CORP. Pres./COO and FOX GROUP CEO PETER CHERNIN is stepping down when his contract expires on JUNE 30th, reports THE NEW YORK POST.
The company said that the FOX businesses will now report directly to NEWS CORP. Chairman RUPERT MURDOCH, and that the two executives will work closely to ensure an "effective transition."
"PETER is a valued colleague and a trusted friend," MURDOCH said in a statement announcing CHERNIN's resignation. "There are few executives, at any company, that combine his maturity, his experience, and his skills as a communicator and leader -- I will miss him. It is understandable that at this stage in his life he would want to do something new after serving NEWS CORP. and our shareholders so well for so long."