More news on the Murdoch front as the Fox Corp. proxy filed today shows Rupert with a 24% pay increase in fiscal 2023 to $22.9 million from $18.9 million.
It’s his last full year as chairman of the board as succession planning kicks in. CEO and executive chair Lachlan Murdoch’s compensation totaled $21.77 million, from $21.75 the year before.
The company’s fiscal year ends June 30. The family announced yesterday that Rupert Murdoch will be stepping down as chair of both Fox and News Corp., formally passing the baton to Lachlan, who will assume the sole chairman positions effective after the annual meeting of shareholders set for Nov.
17. Rupert will hold a title of chairman emeritus. The SEC filing this afternoon shows Murdoch senior’s compensation package includes a base salary of $5 million; stock and option awards valued, respectively, at $5.8 million and $1.75 million, and non-equity incentive plan compensation (like a cash bonus) of $4.45 million.
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