News Corp. CFO to Step Down After Company Splits
News Corp. CFO David DeVoe will retire at the end of the current fiscal year, shortly after the media conglomerate splits itself into two separate companies.
DeVoe will become a senior advisor to 21st Century Fox, which will become a publicly traded company unto itself after the June 28 split. He'll also have a seat on the company board.
News Corp. said that John Nallen will become CFO of 21st Century Fox effective July 1. He'll report to Rupert Murdoch, who will be chairman and CEO of the newly named company.
Nallen has been with News Corp. for 18 years. "I am honored to be part of 21st Century Fox's leadership team as we embark on an exciting next chapter to drive long-term value for our shareholders," Nallen said.
After the June 28 split, 21st Century Fox will house most of News Corp's electronic entertainment assets while a new company named News Corp -- without a period -- will house the publishing assets.