After less than two years on the job—and just a week before Rupert Murdoch takes formal control of Dow Jones—the company’s CEO, Richard Zannino, has resigned.
“Dow Jones is about to begin a new chapter,” Mr. Zannino said in a statement. “Dow Jones fits perfectly into News Corp., and Rupert and I have been discussing since September my moving on from the company after the closing.”
In a press release put out this afternoon, the company said: “News Corporation will be announcing Zannino‘s successor shortly. Mr. Zannino will assist in the transition.”
Newsweek, which first reported the news, puts Mr. Zannino’s severance package at at least $30 million. Portfolio‘s Jeff Bercovici, meanwhile, wonders whether Robert Thomson will take over as CEO of Dow Jones, rather than as publisher of The Wall Street Journal.
Also, in reference to a report on Romenesko yesterday that 20 Journal newsroom staffers were going to be laid off and offered buyout packages, a spokesman for The Journal told Media Mob in an email: “It has to do with a continuing newsroom reorganization that has been underway since the summer. It’s worth noting that we are in the process of hiring journalists as well.”