News Corp, which is embroiled in a phone-hacking scandal in Britain, has announced a reshuffle of its board of directors.
News Corp said Kenneth Cowley and Thomas Perkins would leave the board after the annual meeting of shareholders in Los Angeles on October 21 and James Breyer would stand for election.
Cowley joined News Corp in 1964 in Australia and served as chairman and chief executive of News Ltd., the company's Australian newspaper unit, from 1980 to 1997.
He has been a board member since 1979.
Perkins is a founding partner of venture capital firm Kleiner Perkins Caufield & Byers. He has served on the News Corp board since 1996.
Breyer is also a leading venture capitalist and is a partner in venture capital firm Accel Partners.
"We thank Ken and Tom for their years of service on the News Corporation Board and sincerely appreciate the critical insights they provided," Rupert Murdoch, News Corp's chairman and chief executive, said in a statement.
"Jim has a remarkable track record in the investment community and his background in media and technology will enable him to make significant contributions to News Corporation's Board.”
"I consider it a privilege to be nominated and I am excited about the prospect of joining News Corp's distinguished Board at this exciting time in the company's history," Breyer said.
The shuffle comes as a regulatory filing showed that Murdoch's total compensation rose by 47% to $33.3m in the 2011 fiscal year.
