Indian American executive Lavanya Chandrashekar has been appointed as the new Chief Financial Officer at News Corp, taking over from Susan Panuccio who is stepping down on Jan 1. Chandrashekar, 52, brings with her a wealth of experience, having served as the CFO of Diageo, a premium beverages company, and holding senior positions at companies like Procter & Gamble over the past 25 years.
Panuccio, who has been with News Corp since 2017, will continue to support the transition in an advisory role. Chandrashekar’s annual base pay will be $1.4 million along with other incentives as part of her compensation package.
During her time at Diageo from 2021 to September 2024, Chandrashekar led the company through a period of significant growth, achieving a 10.5% Compound Annual Growth Rate (CAGR). She was praised for her role in spearheading a global digital transformation program and fostering talent development across the organization.
News Corp’s CEO, Robert Thomson, expressed his excitement about Chandrashekar joining the leadership team, highlighting her financial expertise, global experience, and integrity. Chandrashekar herself expressed her admiration for News Corp and its leadership, stating that she is looking forward to contributing to the company’s growth and transformation.
News Corp, headquartered in New York and led by media mogul Rupert Murdoch, is a global media conglomerate with interests in various sectors including media, digital real estate services, and publishing. The company operates primarily in the United States, Australia, and the United Kingdom.
Chandrashekar’s appointment is seen as a strategic move to further strengthen News Corp’s financial leadership and drive its ambitious growth plans. With her track record of success and experience in leading transformation initiatives, Chandrashekar is well-positioned to support News Corp in navigating the evolving media landscape and achieving its future goals.
