In the wake of news last week that Rupert Murdoch was stepping down as CEO of the media megafirm 21st Century Fox Inc., the company has officially unveiled its new lineup of top executives.

TVNewsCheck reports that the company’s board announced the management changes Tuesday.

“Rupert Murdoch, the company’s founder and chairman-CEO, together with Lachlan Murdoch, currently co-chairman, will become executive co-chairmen,” the story reports. “Chase Carey, the company’s deputy chairman, president and COO since 2009, will become the executive vice chairman and serve in that role through June 30, 2016.”

Rupert Murdoch’s son James Murdoch — Lachlan’s brother — who is currently co-chief operating officer, will become CEO.

“In conjunction with these changes, the company’s corporate functions, and its global television and film operations, will now jointly report to Lachlan and James Murdoch,” the report notes.

Rupert Murdoch is quoted saying: “It has always been our priority to ensure stable, long-term leadership for the company, and these appointments achieve that goal. Lachlan and James are each talented and accomplished executives and together, we, as shareholders and partners, will strive to take our company to new levels of growth and opportunity at a time of dynamic change in our industry.”