Fox Extends Lachlan Murdoch’s Contract Through 2030 and Raises His Pay

Overview

• The Fox Corp. board extended CEO Lachlan Murdoch’s employment through 2030 and increased his target annual bonus to $9 million and his target annual equity award to $20 million while also renewing CFO Steve Tomsic’s contract with higher bonus and equity targets.
• Lachlan Murdoch’s total pay for fiscal 2025 rose to $33 million while his base salary remained $3 million and Tomsic’s annual salary was raised to $2 million with further bonus growth scheduled later in the term.
• Per the company’s SEC filing, Murdoch recused himself from all board discussions and votes about his own contract and compensation to document governance transparency.
• The board framed the renewals as a way to cement succession and keep Fox’s current strategic and editorial course after a family settlement last year that reinforced Lachlan’s control and removed several siblings from formal ties.
• By locking in leadership and pay, the move strengthens Lachlan Murdoch’s ability to pursue growth plans such as streaming and digital initiatives and reduces the chance of a future leadership shift that could change Fox News and other assets.