News Corp. named Bloomberg executive Lex Fenwick CEO of Dow Jones & Co. Thursday, filling a spot left vacant by Les Hinton in July.
Fenwick spent 25 years at Bloomberg, and his new job will place him in charge of a Bloomberg competitor. Reporting to News Corp. COO Chase Carey, Fenwick will oversee the Wall Street Journal, the Dow Jones newswires and the Dow Jones financial information service among other properties.
“Lex has been a driving force in the financial news and information industry for more than two decades,” Carey said in a statement. “His aggressive and bold leadership will be invaluable to Dow Jones at a time when digital technologies are making information ever more important. We have a great opportunity to build enormous value around Dow Jones’ unique expertise and franchises.”
Fenwick has served as both CEO and COO of Bloomberg LP, taking the top spot after Michael Bloomberg decided to run for mayor of New York. He also founded Bloomberg Ventures in 2008.
At Dow Jones, Fenwick succeeds Hinton, a long-time ally of News Corp. CEO Rupert Murdoch. Hinton worked for Murdoch for more than 50 years, resigning in July as a phone hacking scandal engulfed News International, News Corp.'s British publishing subsidiary.
Hinton served as chairman of News International when much of the hacking is thought to have taken place. Despite leading the company's internal investigation he has denied being aware of the scope of the hacking.