Former ambassador Tefft joins Dow Jones Special Committee

NEW YORK - John F. Tefft, a retired U.S. diplomat, has been elected to the Dow Jones Special Committee, replacing Anne W. Patterson who retired after seven years of service, according to a press release statement. News Corp (NWS), parent company of Dow Jones and The Wall Street Journal, currently maintains a market capitalization of $14.85 billion and generates annual revenues of $8.45 billion. According to InvestingPro, the company maintains a GOOD financial health rating.

Tefft will serve the remainder of Patterson’s term through December 31, 2027, after which he would be eligible for reelection to a five-year term.

The five-person Special Committee operates as an independent body responsible for safeguarding the editorial independence of The Wall Street Journal and Dow Jones, while monitoring adherence to professional standards. The committee’s approval is required for appointments of the Journal’s Editor-in-Chief and Editorial Page Editor. With News Corp’s next earnings report due on November 6, investors tracking the company’s governance and performance can access comprehensive analysis through InvestingPro’s detailed Research Reports, which offer expert insights on 1,400+ top stocks.

Tefft previously served as U.S. ambassador to the Russian Federation from 2014 to 2017, following diplomatic posts as ambassador to Lithuania, Georgia and Ukraine. After initially retiring from the Foreign Service in 2013, he worked as executive director of RAND Corp.’s U.S.-Russia Business Leaders Forum before being recalled to government service. He currently serves as a Senior Fellow at RAND Corp.

In October 2023, Tefft received the American Foreign Service Association’s Lifetime Contributions to American Diplomacy award. He holds degrees from Marquette University and Georgetown University.

The Special Committee was established during News Corp’s acquisition of Dow Jones & Co. in late 2007. Other committee members include chair Thomas J. Bray, secretary Lou Boccardi, Cynthia Glassman and Larry Ingrassia.

In other recent news, the Murdoch family trusts have announced plans to sell over 14 million shares of News Corp’s Class B common stock through an underwritten public offering. The trusts, established for the benefit of Prudence MacLeod, Elisabeth Murdoch, and James Murdoch, will receive all proceeds from the offering, while News Corp will not sell any shares or receive any proceeds from the transaction. In a related development, News Corp disclosed that the Murdoch Family Trust has resolved a dispute, resulting in a restructuring of the family’s media holdings. New trusts will be established for Lachlan Murdoch, Grace Murdoch, and Chloe Murdoch, with Prudence MacLeod, Elisabeth Murdoch, and James Murdoch no longer beneficiaries of any trust holding shares in News Corp or Fox Corporation.

Separately, Dow Jones has appointed Sarah Cottle as executive vice president and general manager of its energy business division. Cottle will oversee the company’s portfolio of services for energy, chemical, and environmental commodity markets. Additionally, Realtor.com has named Janakiraman Karthikeyan as its new Chief Technology Officer. Karthikeyan will be responsible for aligning the company’s technology vision and strategy with its growth objectives.

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