- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Both Rupert Murdoch and Lachlan Murdoch will take home quite a bit less in compensation than they did last year, reflecting the completion of the spinoff to Disney and the skinnier Fox Corp. portfolio of companies.
According to a Monday proxy filing with the SEC, Fox Corp. chairman Rupert Murdoch will see total compensation of $42.1 million in fiscal 2019, down from $49.2 million in 2018.
Fox Corp. CEO Lachlan Murdoch, meanwhile, will also take home $42.1 million in total compensation, down from $50.7 million last year. The compensation covers the part of the year in which they were paid by 21st Century Fox, as well as the time since the spinoff in March, both pro-rated.
However, due to the extraordinarily unusual year, which saw Disney close its acquisition of much of 21st Century Fox, the filing added a chart showing the compensation Fox “would expect to pay its named executive officers on a go-forward basis” — in other words, the compensation shareholders should expect the executive officers to earn assuming there are no other extraordinary transactions.
The company said it included the chart “to give our stockholders a better understanding of the annual target compensation approved by the Compensation Committee for our named executive officers that will be applicable going forward, and excludes compensation-related decisions approved by 21CF.”
The pro forma chart had Rupert Murdoch’s compensation at $29.3 million for the year, and Lachlan Murdoch’s compensation at $23.6 million.
James Murdoch, who had been CEO of 21st Century Fox, left the company after its spinoff and was not included in the filing.
The filing also revealed that Fox Corp. will hold its first annual shareholder meeting as a new company on Nov. 14 at the Zanuck Theatre on the Fox Studios lot.
Sign up for THR news straight to your inbox every day