According to CNBC, Rupert Murdoch is to become the Executive Chairman of 21st Century Fox. His youngest son James will take the role of Chief Executive. Rupert Murdoch was previously Chairman and Chief Executive of the company.

As part of the changes Rupert Murdoch’s older son Lachlan is to become a Co-Executive Chairman of 21st Century Fox.
 
Rupert Murdoch was Chairman and Chief Executive of News Corporation until it was split into an entertainment arm, 21st Century Fox, and a publishing company, News Corp, in 2012.