News Corp Formalizes Ethics Training And Oversight Operations

CEO Rupert Murdoch announced the changes today in a staff memo. He named General Counsel Gerson Zweifach to serve as Chief Compliance Officer, with responsibility “to create a more robust global compliance and ethics program.” Associate General Counsel Lisa Fleischman will make day-to-day decisions as Deputy Chief Compliance Officer. Both will report to the company board and its Audit Committee. In addition, News Corp will be divided into five “compliance groups,” each with a full-time Group Chief Compliance Officer who’ll report to Zweifach. There will be two in Los Angeles — one for Cable and Broadcast and another for Film and TV Production. In addition, there will be compliance groups for Europe and Asia, Australia, and in New York for News and Information. “We recognize that strengthening our compliance programs will take time and resources, but the costs of non-compliance – in terms of reputational harm, investigations, lawsuits, and distraction from our mission to deliver on our promise to consumers – are far more serious,” Murdoch says. He adds that the company has already strengthened and expanded anti-bribery training, and has begun to review anti-corruption controls “in selected locations around the globe.” The review “is not based on any suspicion of wrongdoing by any particular business unit or its personnel. Rather, it is a forward-looking review based on our commitment to improve anti-corruption controls throughout the company.” (more…)

This article was printed from https://deadline.com/2012/08/news-corp-ethics-changes-hacking-scandal-319306/