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Fox News names new co-presidents following Ailes departure

Fox News on Friday named Fox Television Stations CEO Jack Abernethy and Senior Executive Vice President Bill Shine co-presidents, effective immediately.

The move follows the resignation of former Fox News CEO Roger Ailes last month after allegations of sexual harassment. Former Fox News anchor Gretchen Carlson sued him last month, and several other women have come forward since then.

The co-presidents will divide responsibilities "for all facets of the network," according to a press release. Rupert Murdoch, the network's founder, made the announcement Friday. Both Abernethy and Shine will report to him, according to the release.

"Jack [Abernethy] was integral to the launch and success of FOX News nearly 20 years ago and we're delighted he's returning to take on this additional role," Murdoch said in a written statement. "As we continue to benefit from his strong leadership of Fox Television Stations, his strategic vision and deep knowledge of the cable news business will ensure continued growth of FOX News and FOX Business Network for generations to come."

Additionally, Suzanne Scott has been promoted to executive vice president of programming and will continue reporting to Shine. Jay Wallace, executive vice president of news editorial, will still manage the news division and report to Shine. Chief Financial Officer Mark Kranz will retire. Kranz spent 19 years with the company.

This story is developing. Please check back for further updates.

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