News Corp, the global media company headed by Rupert Murdoch, has announced the appointment of Lavanya Chandrashekar as its new Chief Financial Officer (CFO), effective January 1, 2025.

Chandrashekar succeeds Susan Panuccio, who will step down after nearly eight years in the role, transitioning into an advisory capacity for six months to support a smooth leadership transition.

A Seasoned Financial Executive

Chandrashekar brings nearly 30 years of experience in global finance and investor relations to her new role. She joins News Corp from Diageo, where she served as CFO from 2021 until her departure in September 2024.

At Diageo, she was pivotal in guiding the company through rapid growth and digital transformation, achieving a 10.5% compound annual growth rate (CAGR).

Her leadership in launching a global digital transformation initiative further underscores her expertise in managing large-scale strategic changes.

Before her tenure at Diageo, Chandrashekar held senior positions at major consumer-facing companies, including Procter & Gamble and Mondelēz.

Her vast experience in driving profitable growth and enhancing operational efficiency positions her as a strong leader for News Corp, as the company continues its transformation into a more diversified digital and subscription-focused business.

Her Educational Background

Chandrashekar holds a Bachelor of Commerce in Finance from Mount Carmel College in Bangalore, India, and an MBA in Strategy and Finance from the Indian Institute of Management, Bangalore.

Compensation and Relocation Package

As part of her appointment, Chandrashekar’s compensation package includes an annual base salary of $1.4 million, with a target bonus of $2.5 million.

She will also receive a long-term equity incentive valued at $2.6 million and a one-time equity bonus valued at $2.6 million

 In addition, News Corp will provide her with a $500,000 relocation package to assist with her move to the New York City metropolitan area.

Leadership Praise and Future Vision

Robert Thomson, CEO of News Corp, expressed confidence in Chandrashekar’s abilities, noting that her financial expertise, global experience, and integrity were key factors in her appointment.

“Lavanya’s track record in leading transformation initiatives, paired with her vision for growth, will be invaluable as we continue our ambitious journey,” he stated.

Chandrashekar herself shared her enthusiasm for joining News Corp at this transformative time.

“I am honored to join the team during such an exciting period of growth,” she remarked. “I look forward to contributing to the company’s future as it builds on its global success.”

Susan Panuccio’s Legacy

Panuccio’s tenure at News Corp has been marked by the company’s significant growth, including its shift toward a digital-first business model.

Under her leadership, News Corp saw impressive financial results, including robust free cash flows, strategic investments in key growth areas such as Dow Jones’ B2B expansion, and a $1 billion share repurchase program.

Panuccio’s legacy also includes overseeing two successful debt offerings at attractive rates.

Panuccio expressed her gratitude for her time at the company and her continued support during the transition, stating, “It has been a privilege to help lead News Corp’s transformation, and I believe the company has a bright future ahead.”

Looking Ahead

With Chandrashekar’s extensive experience and the strong foundation laid by her predecessor, News Corp is poised to continue its growth, innovation, and digital transformation journey.

Chandrashekar’s leadership will be crucial as the company navigates an ever-evolving media landscape, focusing on expanding its digital footprint while maintaining its leadership in traditional media sectors.

Why Is Lavanya Chandrashekar’s Appointment Significant for the South Asian Community?

Lavanya Chandrashekar’s appointment as CFO of News Corp is a landmark moment for the South Asian community, marking the increasing presence of South Asian talent in top global corporate roles.

With nearly 30 years of experience in finance and leadership at companies like Diageo, Mondelēz, and Procter & Gamble, Chandrashekar’s success story offers a powerful example of what’s possible for South Asians in business.

Her leadership in driving digital transformation at Diageo further underscores the community’s growing influence in innovation and tech-driven industries.

This appointment not only highlights the importance of diversity in corporate governance but also serves as an inspiration for future generations of South Asians to pursue leadership roles in the global business world.