Co-president Bill Shine is out at Fox News, according to a memo to network employees from 21st Century Fox and Fox News Executive Chairman Rupert Murdoch.
"Sadly, Bill Shine resigned today. I know Bill was liked and respected by everybody at Fox News," writes Murdoch.
Suzanne Scott will become president of programming, while Jay Wallace will be president of news.
"Fox News continues to break both viewing and revenue records, for which I thank you all for. I am sure we can do even better," Murdoch's memo concludes.
New York Magazine's Gabriel Sherman had first tweeted that Shine, who has been with the network since its inception, was no longer with the network "as of this morning."
BREAKING: Two sources inside Fox News say Bill Shine is out as of this morning— Gabriel Sherman (@gabrielsherman) May 1, 2017
Last week, Fox host Sean Hannity wrote in a tweet to Sherman that if Shine exited the network, it would be "the total end of FNC as we know it."
Shine was named Fox News co-president along with Jack Abernethy not long after the stunning departure of former Chairman and CEO Roger Ailes last July.
Pressure was building for Fox to make more changes to its work environment after Ailes and former top-rated host Bill O'Reilly were both ousted over sexual harassment accusations.
Scott has also been with the network since its inception in 1996 and had served as senior vice president of programming and development since 2009.
Wallace, who also joined Fox News in 1996, previously served as executive vice president of news.
Abernethy remains as co-president of Fox News and CEO of Fox Television Stations, the network said.
--This report was last updated at 3:22 p.m.