News Corporation announced that Susan Panuccio will step down from her role as Chief Financial Officer on January 1, 2025, and will be succeeded by Lavanya Chandrashekar. Ms. Panuccio will continue in an advisory capacity for six months to help ensure a smooth transition and to support Ms. Chandrashekar. Ms. Panuccio has been a key leader during a period of rapid expansion and transformation for News Corp.

since becoming Chief Financial Officer in March 2017. During her tenure, News Corp. has achieved record results, and transitioned into a diversified digital- and subscription-first business.

The company has generated very healthy free cash flows, successfully completed two debt offerings at attractive rates and boosted capital returns through its $1 billion repurchase program. Under Ms. Panuccio?s leadership, News Corp. made several strategic investments within the company?s key growth pillars, including expansion of B2B at Dow Jones, while streamlining costs and adding high margin, content licensing revenues from tech platforms. During her time at News Corp, the company?s share price has risen over 140% since March 1, 2017, materially outpacing sector performance during that period.

The Board of Directors, in consultation with Ms. Panuccio, has executed a well planned succession process to identify and transition responsibility to her successor. Ms. Chandrashekar has nearly 30 years of experience in international finance and investor relations, and has held senior positions at blue chip consumer facing companies, including Procter & Gamble, Mondelez and Diageo, where she was Chief Financial Officer from 2021 to September of 2024. During her tenure at Diageo, Ms. Chandrashekar led the company through a period of profitable and accelerated growth, with the company growing at a 10.5% CAGR.

An innovative global executive, Ms. Chandrashekar spearheaded and launched a multi-faceted global digital transformation program for Diageo. Her passion for mission and culture enabled the development and elevation of talent across the company.