Boston, MA, 03/26/2014 (usastockreports)- Twenty First Century Fox Inc. (NASDAQ:FOXA) board of directors has appointed Lachlan Murdoch as a non-executive co-chairman of the company and also elevated James Murdoch to the position of co-chief operating officer. Lachlan the son of the company’s Chief Executive officer Rupert Murdoch, is expected to work closely with the senior management team in developing global strategies as well as guiding the company’s corporate agenda.
Twenty First Century plans to expand its reach while also investing in new technologies to increase its market share around the world. The appointment came as a surprise considering Lachlan turned his back on the company seven years ago, after banging his head with top lieutenants of the company as well as his father. He previously held the position of Chief Operating Officer in the company before quitting.
Lachlan to offer rich knowledge in business strategies
Lachlan has been focusing on his business interest through his private investment company in Australia, over the past seven years. The appointment of Lachlan comes at the back of the company announcing that its majority shareholders had come into a consensus agreement, for the delisting of the company from the Australian Security exchange.
Lachlan comes back into the frame as a talented executive sure to offer rich knowledge that will highly benefit Twenty First Century in its business operations. His work in the company is cut, considering the company revenue growth over the past quarters has been impressive, growing by over 14.9% over the past year alone.
The main challenge at the moment will to try and ensure that revenue growth trickles down the company’s bottom line, to impart growth in earnings per share. The company also boosts of a lower debt to equity ratio of 0.99, suggesting better debt management strategies from the company. Twenty First Century Fox Inc. (NASDAQ:FOXA)’s net operating cash flow is also at a high of $727 million having surged by 178.54% over the past year.