Hart departs as News Corp shakes up Dow Jones
05 January 2010 | 4845 views | 1
Financial information group Dow Jones is to combine its enterprise and consumer divisions in a shake-up that will see the departure of Clare Hart, president of the enterprise business, who had championed a Web-based distribution strategy for the group.
The overhaul, which comes a little over two years after News Corp took over the group for $5.7 billion, puts key products such as The Wall Street Journal, Dow Jones Newswires and Factiva in a single operating unit.
Les Hinton, chief executive of Dow Jones, says: "This structure will provide the focus to make us faster and better than our rivals at identifying and meeting customer needs."
Under the re-org, Todd Larsen, the former head of the consumer business, is named president of Dow Jones with responsibility for the primary commercial operations of the company. CFO Stephen Daintith will take on the additional responsibilities of chief operating officer.
Commenting on the reshuffle, and the departure of 25-year Dow veteran veteran Hart, Hinton says: "This isn't about personalities, and it's not about costs. It's about the best way to operate an information business at a time when technology provides new tools for delivering news and new opportunities for keeping businesses and individuals informed."