Amid legal challenges and changes, Fox Corporation has announced the appointment of a new chief lawyer. Adam Ciongoli, who previously served as the executive vice president and general counsel of the Campbell Soup Company, will now take on the role of overseeing all legal, compliance, and regulatory matters for Fox, as well as managing government affairs.
Ciongoli’s tenure at Fox comes at a time when the company is facing several legal battles. This includes shareholder lawsuits related to election falsehoods, a $787.5 million settlement in April with Dominion Voting Systems over a defamation complaint, and a $2.7 billion defamation suit brought by Smartmatic, another election technology company.
In a statement regarding Ciongoli’s appointment, Fox chief executive Lachlan Murdoch expressed confidence in Ciongoli’s extensive legal background and his ability to be a valuable asset to the company.
Ciongoli’s compensation package includes a base salary of $1,750,000, with a target bonus of $2.75 million and a potential shareholder award of up to $3 million. Additionally, to offset the forfeited awards from his previous position at Campbell, he will receive an extra award of restricted stock units with a value of $2.35 million. His official start date in his new role is December 1st.
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Commenting on his new position, Ciongoli stated, “FOX is uniquely positioned to build on the momentum that has been established by its industry-leading brands.”
This move comes after the departure of Viet Dinh, Fox’s former chief legal and policy officer, and general counsel. Dinh received a $23 million severance payment and will also be paid $5 million for a two-year term as a special adviser to the company.
Furthermore, in June, Fox News settled a lawsuit brought by former producer Abby Grossberg, who alleged that she experienced sexist, racist, and antisemitic comments while working at the company. Grossberg also claimed that she was misinformed as she prepared to be deposed in the defamation suit brought by Dominion.
Overall, Ciongoli’s appointment marks a significant transition for Fox as the company navigates turbulent legal waters. His experience and background in various industries and government positions position him to lead the company through these challenges and build on its momentum in the industry. With his leadership, Fox is poised to continue its growth and success in the face of legal challenges and changes within the organization.
