News Corp. - Class A (MM) (NASDAQ:NWSA)
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1 Year : From May 2012 to May 2013
(Updates with additional executive changes in paragraphs three to five)
By Kristin Jones and Nathalie Tadena
Dow Jones & Co. unveiled a slew of executive changes and departures at the company, including the resignation of its president, Todd Larsen, after more than two years on the job and 13 years at the company.
No reason was given for Mr. Larsen's departure, and no replacement was named. Mr. Larsen served as interim head of Dow Jones after Les Hinton resigned last July as part of the fallout from News Corp.'s (NWS, NWSA) phone-hacking scandal in the U.K. Mr. Larsen was mentioned as a candidate to replace Mr. Hinton permanently as Dow Jones's chief executive, but the job eventually went to Lex Fenwick in February.
Among other changes at the company, Dow Jones said it has promoted Alisa Bowen, currently general manager of The Wall Street Journal Digital Network, to head of product for Dow Jones. Kelly Leach, currently senior vice president of strategy, was named managing director for Dow Jones for Europe, Middle East and Africa, and will become publisher of The Wall Street Journal Europe.
Dow Jones also said three additional officers will be leaving the company--Scott Schulman, the president of corporate markets; Lynne Brennen, senior vice president of circulation; and Bethany Sherman, senior vice president and chief communications officer. The company said a new chief communications officer will be named in the coming weeks.
Dow Jones is also creating a new data-strategy department, which will be headed by Joe Lanza, current president of financial markets for Dow Jones.
Dow Jones & Co., owned by News Corp., is the publisher of Dow Jones Newswires and The Wall Street Journal.
"Our digital business, one that others look to emulate, is at the forefront of the industry, and that is a testament to Todd's leadership and guidance," Mr. Fenwick said.
The 46-year-old Larsen, who has been president of the company since January 2010, also has served as chief operating officer of the company's consumer media group and president of its former Consumer Electronic Publishing unit.
"I have enjoyed immensely my 13 years spent in challenging and exciting roles at Dow Jones," Mr. Larsen said.
News Corp.'s Class A shares were up 1.1% at $20.31 in recent trading. The stock is up 14% so far this year.
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