Fox News executive announces resignation in fallout from sexual harassment scandal

A booth of Fox News is seen at the Wells Fargo Center on July 24, 2016 in Philadelphia, Pennsylvania. The Democratic National Convention opens July 25. (Photo by Alex Wong/Getty Images)

NEW YORK (CNNMoney) — Fox News co-president Bill Shine is out at the network, the latest casualty in the scandal that has plagued Fox News and its parent company 21st Century Fox since last summer.

Shine’s departure was announced Monday.

“This is a significant day for all at Fox News,” Rupert Murdoch, the executive chairman of 21st Century Fox, said in a statement announcing Shine’s resignation. “Bill has played a huge role in building FOX News to its present position as the nation’s biggest and most important cable channel in the history of the industry. His contribution to our channel and our country will resonate for many years.”