John Nallen Named President and Chief Operating Officer of Fox Corporation in New Long-Term Deal
Rhea-AI Summary
Fox (FOXA) has announced the appointment of John Nallen as President and Chief Operating Officer through June 2028. Previously serving as Chief Operating Officer, Nallen has been a member of the Office of the Chairman and has signed a new long-term employment agreement.
Executive Chair and CEO Lachlan Murdoch highlighted Nallen's instrumental role in FOX's evolution and his contribution to the company's operating momentum and profitability. Before FOX's spinoff from 21st Century Fox in March 2019, Nallen served as Senior Executive Vice President and CFO at 21CF since 2013, managing all financial matters including capital market and M&A transactions. His history with the company dates back to 2001 when he joined as Executive Vice President and Deputy CFO, following his partnership role at Arthur Andersen where he led the Media and Entertainment practice.
Positive
- Secured long-term leadership stability with COO contract through 2028
- Retained experienced executive with proven track record in M&A and financial operations
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, FOXA gained 0.87%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"John has been instrumental in the continued evolution of FOX and a key partner to me for many years," said Fox Corporation Executive Chair and Chief Executive Officer Lachlan Murdoch. "We greatly value his ongoing impact and his strategic vision and are pleased that he will continue to help guide the strong operating momentum and profitability of FOX as President and COO."
Prior to the spinoff of FOX by 21st Century Fox ("21CF") in March 2019 and the establishment of FOX as a standalone public company, Mr. Nallen was the Senior Executive Vice President and Chief Financial Officer for 21CF, a role which he assumed in 2013. He led all aspects of 21CF's financial matters, including capital market and merger and acquisition transactions.
Before that, Mr. Nallen served as 21CF's Executive Vice President and Deputy Chief Financial Officer, a position he held starting in 2001. He joined 21CF (previously known as News Corporation) in 1995 from Arthur Andersen where he was a partner leading its Media and Entertainment practice.
About Fox Corporation
Fox Corporation produces and distributes compelling news, sports, and entertainment content through its primary iconic domestic brands, including FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations and Tubi Media Group. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of our footprint allows us to deliver content that engages and informs audiences, develop deeper consumer relationships, and create more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that shapes our strategy to capitalize on existing strengths and invest in new initiatives. For more information about Fox Corporation, please visit www.FoxCorporation.com.
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SOURCE Fox Corporation
FAQ
When does John Nallen's new contract as Fox (FOXA) President and COO expire?
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