NEW YORK: Dow Jones & Company president Todd Larsen has stepped up to run the company after CEO Les Hinton's sudden departure late Friday. However, it remains unclear how the company's succession plan will play out.
Last Friday, Dow Jones issued a press release announcing that Hinton, a 52-year veteran of News Corporation, would be stepping down amid the recent scandal surrounding News Corp.'s News of the World. Hinton also resigned from his role as publisher of The Wall Street Times. Larsen will now report to Chase Carey, deputy chairman, president, and COO of News Corp.
Before joining Dow Jones, Hinton served as executive chairman of News International, News Corp.'s UK newspaper unit, which ran News of the World."In September 2009, I told the committee there had never been any evidence delivered to me that suggested the conduct had spread beyond one journalist," Hinton said in the statement. "If others had evidence that wrongdoing went further, I was not told about it.”
Ashley Huston, director of corporate communications at Dow Jones, declined to comment on the next steps the company will be taking following the unexpected resignation. Reed Nolte, SVP of IR for News Corp., did not respond to inquiries.
Last Thursday, Edelman was hired by News Corp. to help with its PR and lobbying efforts out of the agency's UK office. The firm would not comment on whether it would now be aiding Dow Jones, only offering the following statement today: “The Edelman UK team has been retained by News Corporation to provide general communications support and public affairs counsel to the management and standards group at News Corp."New York-based PR agency Goodman Media International has Dow Jones listed as a client on its website, but the firm says it is no longer working with the company.