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Dow Jones & Co President Todd Larsen resigns

Larsen is quitting after he was passed over for the top job at the business news service earlier this year.

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News Corp headquarters on 6th Avenue in New York City. (TIMOTHY A. CLARY/AFP/Getty Images)

Todd Larsen, the president of News Corp unit Dow Jones & Co, has quit, The Wall Street Journal reported today.

Several other executives also are out at the company which also publishes The Wall Street Journal. Among them circulation senior VP Lynne Brennan and Dow Jones Corporate Markets president Scott Schulman. 

No reasons were given for Larsen’s departure from the business news service where he worked for 13 years and no replacement was named in the statement issued by the company.

There have been reports that he is in the running for the chief executive position at the New York Times Co, according to Reuters.

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“I have enjoyed immensely my 13 years spent in challenging and exciting roles at Dow Jones,” Larsen said in the statement.

"I believe strongly in the company's products and brands, and I have been blessed to work with a wonderful group of talented people. I look forward to watching the continued success of the organization in the years to come."

Larsen took on the role of president in 2010. He missed out on the top job of chief executive earlier this year when Bloomberg executive Lex Fenwick was hired to run the New York-based company, previous reports said.

According to Bloomberg, Fenwick replaced Les Hinton who was forced out of Dow Jones in July amid the phone hacking scandal in Britain. Hinton, who had been one of Rupert Murdoch's closest business associates, had been running News Corp’s British newspapers when the illegal activities took place.

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Alisa Bowen, general manager of The Wall Street Journal Digital Network will take over as head of product for Dow Jones, the company said in a statement this afternoon. 

Dow Jones also said it would create a new Data Strategy division. 

http://www.globalpost.com/dispatch/news/regions/americas/united-states/120619/dow-jones-co-president-todd-larsen-resigns