James Murdoch, the younger son of Rupert, will relinquish his position as executive chairman of News International, its parent company News Corp said on Wednesday.
The younger Murdoch will remain deputy chief operating officer of News Corp and will focus on its international TV business, the company said in a statement. James Murdoch, once seen as a heir apparent for News Corp's top job, has been under pressure in Britain since last summer following the phone-hacking scandal that erupted at the unit which he oversaw. Tom Mockridge, chief executive of News International, will continue in his post and report to News Corp President Chase Carey. News Corp Chairman Rupert Murdoch said in a statement his son would still play an key role at the company. "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."Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
