Lachlan Murdoch has resigned as a News Corporation executive.
Whilst he will stay on the Board, the news confirms the difficulty in ensuring that the next generation stays in the family business. The only reason given for the move was Lachlan's desire to return to Australia.
Even though News Corporation is an international listed company, the Murdoch family has a significant interest in it and Rupert Murdoch is a strong chairman. He still has one son, James, working in the company.
UPDATE: News Corp has disclosed that Lachlan Murdoch will get a termination payout and has signed a two year consulting and non-compete agreement. Lachlan will receive a separation payment equivalent to his salary and bonus for 2004-05, which has not yet been disclosed.
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