News Ltd chief operating officer Peter Macourt is leaving the media company at the end of the year.

Mr Macourt had been responsible for overall management of News Ltd’s complex and diverse operations for the past decade, chief executive Kim Williams said on Monday.

He was also instrumental in all major acquisitions, divestments and new business initiatives, and central to successful negotiations for sports rights, Mr Williams said.

Mr Macourt joined News Ltd’s finance department in 1983, and was financial controller from 1986 to 1994, when he was appointed chief financial officer and to the News Ltd board.

In 1998 Mr Macourt was appointed deputy chief executive, and since 2001 has been chief operating officer.

He said on Monday he would look back on his career at News Ltd with great pride.

“I will leave behind many wonderful colleagues and many fine friends but I believe now is the right time to step aside and allow a new regime to take the company into the future,” Mr Macourt said in a statement.