On Thursday, sources close to the subject told CNBC that Rupert Murdoch, chief executive of 21st Century Fox Inc., plans to step down from his position. According to CNBC, Murdoch will remain on board as the company's executive chairman, but he'll allegedly be handing over the top spot to his 42-year-old son James. I'm sure that the executive chairman position would partly occupy his time, but what could Murdoch do with the rest of his newfound freedom?
It is unclear when the leadership shift will occur, but according toCNBC, they will be discussed with the board early next week. Investors have been expecting an announcement about a potential leadership change ahead of the June 30 deadline for current executive co-chairman Chase Carey to declare if he's staying in the position, the news and business network reported. Carey, who will not continue in his position after his contract expires in June 2016, will allegedly be replaced by Murdoch's older son Lachlan, who will work in tandem with his baby bro and his dad. Talk about keeping the media empire all in the family!
As executive chairman alongside his son, it's unlikely that Murdoch will have a lot of involvement with the day-to-day operations of the company. So what's a newly (sort of) retired billionaire media mogul to do? I've got a few ideas.
Run for president
Find a new wife to thwart pie-throwing attempts
Murdoch divorced his third wife, Wendi Deng Murdoch, in 2013, leaving him defenseless against pies. Yes, pies. The former Mrs. Murdoch famously leapt up and swatted a man who aimed a pie at Murdoch while he was giving testimony in front of Parliament. Who knows what pie threats are on the horizon? He needs a new spouse to defend any perPIEtrators.
Maybe just chill out or something
Hell, I think we all deserve a chance to sit back and enjoy the fruits of our labor. And Murdoch has a billion fruits. When you've been active in the media business since 1952, it might be time to just sit back and enjoy life outside of the business. Pick up a hobby or something. I hear bird watching is nice.
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