Bedi A. Singh To Depart Post At News Corp
February 23 2017 - 4:00PM
Business Wire
Susan Panuccio To Become CFO
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) announced today
that Mr. Bedi A. Singh will be departing as Chief Financial Officer
effective March 1st. Ms. Susan Panuccio, currently Chief Financial
Officer of News Corp Australia, will become the new CFO of the
company.
Following his departure, Mr. Singh intends to pursue new
opportunities; however he has agreed to serve as a senior advisor
to News Corp on its digital property interests in India, reporting
to Mr. Robert Thomson, Chief Executive, and will also join the
advisory board of Move, Inc., which operates realtor.com®.
“I asked Bedi to come back in 2012 to help get the new News Corp
up and running, and he’s done a great job doing just that,” said
Mr. Rupert Murdoch, Executive Chairman. “Through his astute
financial management of key acquisitions and divestitures, and with
the prudent institution of cost controls across the businesses,
Bedi has helped News Corp weather the challenges of this era better
than its peers, and put it on firm footing for long-term growth and
profitability.”
“I am also pleased to announce Susan Panuccio as our new CFO.
Her superb work at News Corp Australia makes her the ideal
successor to Bedi, and we look forward to her joining us at
headquarters as we take on new opportunities in the years ahead,”
said Mr. Murdoch.
Mr. Singh rejoined News Corporation in 2012 and was named CFO as
part of the new leadership team of News Corp in June, 2013. His
previous work with News Corporation included senior finance roles
at News International (now News UK) and 20th Century Fox (now 21st
Century Fox). He also served as President, Finance and
Administration & CFO for MGM Studios and as CFO at Gemstar-TV
Guide, Novartis Pharmaceuticals and Sony Pictures
Entertainment.
“We said at our rebirth in 2013, when Bedi was recruited back
into the News Corp fold, that we would be relentlessly global and
digital in our focus, and Bedi has certainly helped us achieve that
goal,” said Mr. Thomson. “The diversity of our business,
particularly with the significant expansion into digital real
estate, aggressive transition to digital across our mastheads and
strategic tech acquisitions, have made us a stronger company today.
That success could not have been achieved without Bedi’s financial
stewardship.”
“I have had the professional pleasure of working closely with
Susan Panuccio, and she’s the right person to drive the next
important phase of growth at News Corp,” said Mr. Thomson. “Susan
is rigorous in her work and strategic in her thinking.”
During Mr. Singh’s time at News Corp, the company’s significant
acquisitions included Move, Inc., operator of realtor.com®;
Harlequin Enterprises; Wireless Group, operator of talkSPORT; and
tech-startups Storyful, Unruly and Checkout 51. News Corp also made
strategic investments in India, including the acquisition of
VCCircle and BigDecisions.com and an investment in PropTiger.com,
which recently came together with Housing.com to become the largest
digital real estate company in India.
“From the outset nearly four years ago, all of us at News Corp
have had the mindset of a start-up, moving quickly to seize the
moment and expand both digitally and globally. That has made my
time here both exciting and fulfilling,” said Mr. Singh. “Helping
get the new News Corp off the ground and well-positioned for future
growth is something I am immensely proud of, and I’m grateful to
Rupert and Robert for the opportunity to work with them and
everyone at News Corp to set the company on such a strong strategic
course.”
Susan Panuccio has been CFO for News Corp Australia since
September, 2013. She previously served at News International in
several positions, including CFO. She began her career as a Senior
Accountant at KPMG Australia.
"I am looking forward to the next exciting challenge in my
career at News Corp, having worked for the company in both the UK
and Australia. I am delighted to have been given this opportunity
to work with our talented executive teams across the businesses,"
said Ms. Panuccio.
About News Corp
News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) is a global,
diversified media and information services company focused on
creating and distributing authoritative and engaging content to
consumers throughout the world. The company comprises businesses
across a range of media, including: news and information services,
book publishing, digital real estate services, and cable network
programming and pay-TV distribution in Australia. Headquartered in
New York, the activities of News Corp are conducted primarily in
the United States, Australia, and the United Kingdom. More
information: http://www.newscorp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170223006734/en/
News Corp Corporate CommunicationsJim Kennedy,
212-416-4064jkennedy@newscorp.comorNews Corp Investor
RelationsMichael Florin, 212-416-3363mflorin@newscorp.com
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