Rupert Murdoch, currently chairman and chief executive of 21st Century Fox, will become executive chairman on 1 July. His oldest son, Lachlan Murdoch, currently non-executive co-chairman, will become executive chairman.
Chase Carey, the deputy chairman, president and chief operating officer of 21st Century Fox and its predecessor News Corporation since 2009, is to take the role of executive vice chairman until the end of June next year.
James Murdoch was appointed co-chief operating officer in March 2014, the same time Lachlan became the non-executive co-chairman.
Rupert Murdoch said: "It has always been our priority to ensure stable, long term leadership for the company, and these appointments achieve that goal. Lachlan and James are each talented and accomplished executives and together, we, as shareholders and partners, will strive to take our company to new levels of growth and opportunity at a time of dynamic change in our industry."
Rupert Murdoch was chairman and chief executive of News Corporation until it was separated into 21st Century Fox, which housed its entertainment assets, and News Corp, which includes its publishing companies, in 2012.
At the time of the split Rupert Murdoch took both the role of chief executive and chairman of 21st Century Fox but just executive chairman at News Corp. Robert Thomson is the chief executive of News Corp.
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