News Corp. has opted to extend the contract of its general counsel, David Pitofsky, ensuring his tenure continues through June 2028. This decision, revealed in a proxy statement filed by the company, comes with a notable increase in compensation proportionate to Pitofsky’s responsibilities at the media conglomerate.
Starting his career with News Corp. in 2013 as a deputy general counsel, Pitofsky swiftly ascended to the top legal position just two years later. This elevation followed the company’s decision to promote him to the role, succeeding Gerson Zweifach. His annual base salary has been raised to $1.4 million, an increase from $1.2 million, with provisions for higher annual target bonuses and long-term equity awards.
The timing of this contract extension aligns with a period of internal familial friction at the company. While the company and Pitofsky declined to comment on the developments, the elevation demonstrates a firm commitment to maintaining stability and continuity in its legal affairs amidst evolving corporate dynamics.
For additional insights, you can refer to the detailed report by Bloomberg Law, which provides further context to News Corp.’s decision and its broader implications.