Dow Jones CEO Resigns

It's Les Hinton.

See Wall Street Journal, "Dow Jones CEO Hinton Resigns."

And at New York Times, "Les Hinton's Resignation Letters to Murdoch and Journal Staff":

Dear Rupert,

I have watched with sorrow from New York as the News of the World story has unfolded. I have seen hundreds of news reports of both actual and alleged misconduct during the time I was executive chairman of News International and responsible for the company. The pain caused to innocent people is unimaginable. That I was ignorant of what apparently happened is irrelevant and in the circumstances I feel it is proper for me to resign from News Corp, and apologize to those hurt by the actions of the News of the World.

Continue reading Hinton's resignation letter.

And Rupert Murdoch responds, "Murdoch on Hinton Resignation":

To Dow Jones employees,

You will have just heard that I, with the heaviest of hearts, have accepted the resignation of Les Hinton. It is a measure of his integrity and the quality of his character that he felt compelled to take responsibility even though he is far from the serious issues in London.

Les and I have been on a remarkable journey together for more than 52 years. That this passage has come to an unexpected end, professionally, not personally, is a matter of much sadness to me. I vividly recall an enthusiastic young man in the offices of my first newspaper in Adelaide, where Les joined the company as a 15-year-old and had the rather unenviable task of buying me sandwiches for lunch.

It was clear then that Les was a remarkable talent, and that he had the ability and the energy to carry him far. Little did we both realize that we would be travel companions on a journey through the world of magazines, Hollywood, television studios, coupons and the greatest newspapers on the globe. Little did we realize that our corporate relationship would end in these circumstances.

Through all of his many jobs he has displayed leadership – and that leadership has enabled us to make remarkable progress at the Dow Jones company while our competitors have been flailing because of structural change and economic crisis.

Continue.

Look for a thread shortly at Memeorandum.

More: At New York Times, "Executive Who Ran Murdoch Unit at Time of Hacking Quits."