Fox Corp. Board Extends CEO Lachlan Murdoch Contract Through 2030 and Raises Bonus

Fox Corp.'s board of directors extended CEO Lachlan Murdoch's contract through 2030 and raised his target annual bonus to $9 million and target annual equity award to $20 million, effective July 1. The changes were disclosed in an SEC filing released Thursday. His base salary remains $3 million.

In fiscal 2025, Lachlan Murdoch's total compensation reached $33 million, up from $23.8 million the previous year. CFO Steve Tomsic also received a contract extension through 2030. His target annual bonus rises to $3 million and target equity award to $4 million starting July 1, with the bonus increasing further to $3.5 million beginning July 1, 2028.

Background The renewal follows a settlement last fall between Rupert Murdoch and his children. Under that agreement, Lachlan Murdoch's position within the company was reinforced while several siblings formally ended their ties to the media assets. Fox Corp. was formed in 2019 after the $71.3 billion sale of most of 21st Century Fox to Disney, with Lachlan Murdoch named CEO at that time.