Chase Carey, 21st Century Fox (FOXA:US) Inc.’s president and chief operating officer, signed a two-year contract extension through June 2016.
Carey has the option of stepping down at the end of 2015, while remaining a consultant through the contract’s end, according to a filing today by the New York-based media company.
The arrangement keeps Carey in place as the No. 2 executive at Fox while providing flexibility for a potential transition under controlling shareholder Rupert Murdoch, who is chairman and chief executive officer. Murdoch’s son James, 41, was promoted to co-chief operating officer in March, after serving as deputy COO. Murdoch, 83, has said publicly he wants his children to succeed him.
Nathaniel Brown, a spokesman for Fox, had no comment beyond a statement confirming the contract extension.
This year, Lachlan Murdoch, 42, was named non-executive co-chairman of both 21st Century Fox and News Corp. (NWSA:US), the publishing business also controlled by his father. The two companies split in 2013.
Fox rose less than 1 percent to $36.21 at the close in New York. The shares have risen 3 percent this year.
To contact the reporter on this story: Anthony Palazzo in Los Angeles at email@example.com
To contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org Anne Reifenberg