News Corp. has brought in an outsider to lead Wall Street Journal parent Dow Jones and Co., appointing Bloomberg alum Lex Fenwick chief executive officer.
Fenwick replaces Les Hinton, who was ousted in July in the wake of a hacking scandal at News Corp.’s now-shuttered U.K. tabloid News of the World.
Fenwick will report to News Corp. president and COO Chase Carey.
“Lex has been a driving force in the financial news and information industry for more than two decades,” Carey said in a statement announcing the appointment. “His aggressive and bold leadership will be invaluable to Dow Jones at a time when digital technologies are making information ever more important.”
Fenwick joined Bloomberg in 1987 and helped the company launch the Bloomberg Professional service in the UK and Europe. He later took on more international management operations and was appointed COO of Bloomberg LP in 2001. In 2008, Fenwick founded Bloomberg Ventures, an initiative to expand and diversify Bloomberg products.