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Rupert Murdoch and Lachlan Murdoch will both earn lower salaries than last year, reflecting the finalization of the Disney split and the leaner Fox Corp. portfolio.
Rupert Murdoch and Lachlan Murdoch will both earn lower salaries than last year, reflecting the finalization of the Disney split and the leaner Fox Corp. portfolio.
According to a proxy report filed Monday with the SEC, Fox Corp. Chairman Rupert Murdoch receives total compensation of $ 42.1 million in fiscal 2019, up from $ 49.2 million. in 2018.
Lachlan Murdoch, CEO of Fox Corp., will also receive total compensation of $ 42.1 million, compared to $ 50.7 million last year. The compensation covers the portion of the year in which they were paid by 21st Century Fox, as well as the period since the split in March, both prorated.
However, due to the extraordinarily unusual year, which saw Disney close the acquisition of most of 21st Century Fox, the document added a chart indicating compensation that Fox would "expect his appointed officers to be". paid in the future "- in other countries. In other words, the paid shareholders should expect the executives to earn on the assumption that there are no other extraordinary transactions.
The company has stated that it includes the table "to give our shareholders a better understanding of the annual target compensation approved by the Compensation Committee for the Named Executive Officers, which will be applicable in the future, and excludes compensation decisions approved by 21CF ".
According to the pro forma table, Rupert Murdoch's compensation was $ 29.3 million for the year and Lachlan Murdoch's $ 23.6 million.
James Murdoch, who was CEO of 21st Century Fox, left the company after his split and was not included in the rankings.
The filing also revealed that Fox Corp. hold its first annual meeting of shareholders as a new company on November 14 at the Zanuck Theater on Fox Studios.
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