Dow Jones CEO Abrupty Departs

After less than two years, CEO of Dow Jones Lex Fenwick will step down, News Corp has announced. The abrupt departure has many calling into question the future of its news wires and other products aimed at financial institutions. William Lewis has been named interim CEO while a search for a permanent chief executive is underway, and Lewis “plans to review Dow Jones’ institutional strategy.” News Corp is “reviewing the institutional strategy of Dow Jones with an eye towards changes that will deliver even more value to its customers. As part of that, we’re planning improvements to DJX,” said CEO Robert Thomson, who signaled that greater flexibility in its product offerings is likely in the short term. Dow Jones’ DJX information service has been in beta since its launch last year, and has alienated some of the banks, hedge funds and retail brokers that were its main customers because of its rigid pricing structure.