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Dow Jones CEO Resigns

Date: 12-10-2007

Dow Jones & Company CEO Richard F. Zannino plans to leave the company after the closing of Dow Jones' $5.6 billion acquisition by News Corporation. Les Hinton, executive chairman of the News International unit, will replace him. Zannino joined Dow Jones as chief financial officer in February 2001, was named chief operating officer in July 2002, and became chief executive officer in February 2006. According to WSJ, Zannino said he would be interested in running another media company but would be open-minded about other opportunities. He will leave the company with a $19 million payout. Dow Jones' acquisition by News Corporation is scheduled for voting by Dow Jones shareholders on December 13, 2007, and is expected to be completed shortly thereafter.
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