Jeffrey Ubben has been nominated by directors of 21st Century Fox to join the company’s board.
Ubben is founder, CEO and chief investment officer of ValueAct Capital.
Adding Ubben would expand the media company’s board to 13 members from 12.
“Jeff will bring to our Board a great perspective as a global investor and a shared belief in building long-term value for shareholders. Our Board and senior management team have developed a highly-valued relationship with Jeff and we are pleased he has accepted the Board’s invitation to stand for election,” said Rupert Murdoch and Lachlan Murdoch, executive chairmen of 21st Century Fox in a statement.
In conjunction with Ubben’s nomination, the company and ValueAct Capital have entered into an agreement regarding ValueAct Capital’s ongoing ownership of shares in the company.
“I have been extremely impressed with 21st Century Fox’s senior leadership team and directors and their collective vision for the Company’s continued growth in a dynamic industry,” Ubben said. “The rapidly changing media landscape presents significant opportunities, and I believe 21st Century Fox is uniquely positioned to leverage its global presence and market leadership to create further long-term value for all stockholders. If elected by shareholders, it would be a privilege to serve on the Board of such a well-respected and admired global media organization. I look forward to the opportunity to work closely with fellow board members and management to contribute to the long-term success of the Company.”