9:55 am Jun. 19, 2012
The president of Dow Jones, Todd Larsen, has resigned after 13 years with the company.
The move comes several months after former Bloomberg executive Lex Fenwick was named C.E.O. of Dow Jones, which publishes The Wall Street Journal and is owned by News. Corp. Larsen had been floated as a potential heir to the C.E.O. gig after it was vacated by Les Hinton, who resigned last summer amid the escalating phone-hacking scandal. Larsen has been in the role of president since 2010.
The obligatory farewell statements from company brass follow:
Fenwick: "Todd has demonstrated a deep commitment to Dow Jones for more than a decade, and I am grateful to have had the opportunity to work closely with him. 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.
Dow Jones editor-in-chief and Journal managing editor Robert Thomson: "Todd has been an inspiring leader during his time at Dow Jones, providing guidance and insight when there has been a paucity of prescience in our industry. He has been a comradely colleague and played a particularly important role in our successful digital transition."
News Corp. president and C.O.O. Chase Carey: "We are very grateful to Todd for his leadership and commitment during a vital time for Dow Jones, and his efforts have left the Company well positioned for future growth."
At least one former Dow Jones executive was a bit more cynical in his assessment.
"Dow Jones disposes of an empty suit today," tweeted New York Times communications chief Robert Christie, who previously held the same position at Dow Jones.
As for Larsen, described in a news release as "a principal architect of the company's successful digital strategy," he had this to say: "I have enjoyed immensely my 13 years spent in challenging and exciting roles at Dow Jones ... I look forward to watching the continued success of the organization in the years to come."
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