Fox News has tapped two longtime executives to fill the role previously held by one individual: disgraced former Chairman/CEO Roger Ailes.
Fox Television Stations CEO Jack Abernethy and Sr. EVP Bill Shine will serve as co-Presidents of Fox News, which is comprised of the Fox News Channel and Fox Business Network.
The announcement was made Friday by 21st Century Fox Executive Chairman Rupert Murdoch, to whom Mr. Abernethy and Mr. Shine will report.
In their new roles, Abernethy and Shine will share responsibilities for all facets of the two networks.
Abernethy will continue to oversee Fox’s O&Os, while gaining oversight of Fox News’ finance, ad sales and distribution.
Shine will run all programming and news functions of each network, including production, technical operations and talent management. He will continue to oversee all strategic planning throughout the current election season, including election night.
Concurrently, Suzanne Scott has been promoted from SVP/Programming & Development to EVP/Programming & Development for Fox News Channel and will continue reporting to Shine.
Jay Wallace, EVP of News, Editorial, will continue to manage the news division, also reporting to Shine. He was promoted to the role in April 2016 and has been with the network in a variety of roles within the hard news unit since its inception.
Fox News also announced that veteran CFO Mark Kranz is retiring, ending a 19-year stint.
The moves come after Ailes was forced to resign following allegations that he sexually harassed former news anchor Gretchen Carlson in addition to six other women, New York magazine revealed on July 9.