Management ChangeOct 20, 2026, 06:06 AM
Fox Corp: Adam Ciongoli Steps Down as CLPO; Nicholas Trutanich Appointed General Counsel
AI Summary
Fox Corporation announced leadership changes effective December 1, 2026. Adam Ciongoli will step down as Chief Legal and Policy Officer and transition to a special advisor role for eighteen months. Nicholas Trutanich, currently Executive Vice President and Deputy General Counsel, will be appointed as the new General Counsel. The company also detailed separation and advisory agreements for Mr. Ciongoli, including a cash payment for equity awards and a consulting fee, and outlined the employment terms for Mr. Trutanich, including salary, bonus, and long-term incentive targets.
Key Highlights
- Adam Ciongoli to step down as Chief Legal and Policy Officer effective December 1, 2026, transitioning to special advisor.
- Nicholas Trutanich appointed General Counsel, effective December 1, 2026.
- Adam Ciongoli to receive separation payment including one year's base salary and target bonus.
- Adam Ciongoli to receive $12,595,784 cash payment for cancellation of outstanding equity awards.
- Nicholas Trutanich to receive base salary of $1,400,000 and target bonus of $1,400,000.
- Nicholas Trutanich eligible for annual target award of $2,200,000 under long-term incentive plan.
- Adam Ciongoli to receive $1,750,000 per annum as a special advisor for eighteen months.
Price Impact
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