NEW YORK, April 18, 2007 (PRIME NEWSWIRE) -- The Wall Street Journal announced key management changes to its global news operations effective May 15.
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Paul E. Steiger, 64, will become editor at large of the Journal and Marcus W. Brauchli, 45, will succeed Mr. Steiger as Journal managing editor. Mr. Brauchli will report to L. Gordon Crovitz, executive vice president of Dow Jones & Company and publisher of The Wall Street Journal.
Under Dow Jones corporate policy, all senior managers must retire from the company at the end of the year of their 65th birthday; Mr. Steiger must therefore retire from Dow Jones & Company no later than Dec. 31, 2007.
"Paul is one of the great leaders in the history of business journalism, and his leadership has resulted in The Wall Street Journal going from strength to strength. He took the Journal to a four-section newspaper from a three-section newspaper, redesigned the U.S., Asia and Europe editions, launched the critically successful Weekend Edition and helped build the Wall Street Journal Online into the largest subscription news site on the Web," said Mr. Crovitz. "Paul's impact on the Journal will benefit readers and inspire our newsroom for generations."
All editors of The Wall Street Journal, the Wall Street Journal Online, the Wall Street Journal Asia and the Wall Street Journal Europe will continue to report to the managing editor, Mr. Brauchli, who will set direction and develop news policies for the Journal franchise.
"Marcus Brauchli is a superb journalist, who reported for Dow Jones Newswires and the Journal from more than 20 countries, and as global news editor oversaw Journal coverage from stock-market downturns to the Sept. 11 terrorist attacks," said Mr. Crovitz. "More recently, as a deputy managing editor under Mr. Steiger, Mr. Brauchli led the news department in the highly successful Journal redesign that launched earlier this year, giving us great confidence that the Journal in print and online will thrive by continuing to engage readers with distinctive, only-in-the-Journal coverage."
About Mr. Steiger
Mr. Steiger has served as the Journal's managing editor since 1991. He has also served as the chairman of the board for the Pulitzer Prizes and is the chairman of the Committee to Protect Journalists, a New York-based nonprofit organization founded to promote press freedom by working for the rights of journalists world-wide.
Mr. Steiger joined the Journal in 1966 as a reporter in the San Francisco bureau. In 1968, he moved to the Los Angeles Times as a staff writer and, in 1971, he transferred to the paper's Washington, D.C., bureau as an economics correspondent. Mr. Steiger returned to Los Angeles in 1978 to serve as the Times' business editor.
In 1983, Mr. Steiger rejoined the Journal as an assistant managing editor in New York and became deputy managing editor in 1985. He was appointed to managing editor in 1991 and became a vice president of the Journal in 1992. The editors and news staffs of the European and Asian Journals began reporting to him in 2002 and the staff of the Online Journal in 2006.
Mr. Steiger was named the first recipient of the American Society of News Editors Leadership Award in April 2002. He received the Columbia Journalism Award, honoring a "singular journalistic performance in the public interest" from the Columbia University School of Journalism in May 2002 and in June, Mr. Steiger was awarded the 2002 Gerald Loeb Award for lifetime achievement. The news department won 16 Pulitzers during Mr. Steiger's term as Journal managing editor.
About Mr. Brauchli
Mr. Brauchli has led the Journal's news desk through two U.S. presidential elections, the 2000-2001 stock-market downturn, a series of corporate scandals, the Sept. 11 terrorist attacks and the ensuing wars in Afghanistan and Iraq. Before that, he was a foreign correspondent for nearly 15 years, reporting from more than 20 countries, from Cambodia to the former Soviet Union. He covered the fall of Marcos in the Philippines and Suharto in Indonsia; the introduction, spread and complications of economic reform in China; Japan's financial bubble and subsequent crash; and the 1997-98 Asian financial crises.
Mr. Brauchli joined Dow Jones in January 1984 as a national copyreader with AP-Dow Jones and transferred to Hong Kong in September that same year to become a reporter for the newswire. In May 1987, he joined The Wall Street Journal Europe as a Scandinavia correspondent, and in July 1988, moved to The Wall Street Journal's Tokyo bureau, covering economics and finance. He returned to Hong Kong in October 1992 as the Journal's Asia correspondent, covering Southeast and South Asia. In May 1995, Mr. Brauchli was named China bureau chief for the Journal and The Asian Wall Street Journal, based in Shanghai and overseeing reporters in Hong Kong and Beijing. He moved to New York as a news editor for the Journal in October 1999 and became national news editor in January 2000. He was appointed global news editor in September 2003 and made a deputy managing editor in December 2005.
He is a Columbia University graduate, was a Nieman Fellow at Harvard and is a member of the Council on Foreign Relations.
For more information about Mr. Steiger and Mr. Brauchli, please go to www.dowjones.com/nme
About The Wall Street Journal
The Wall Street Journal, the flagship publication of Dow Jones & Company (NYSE:DJ) (www.dowjones.com), is the world's leading business publication. Founded in 1889, The Wall Street Journal has a print and online circulation of nearly 2.1 million, reaching the nation's top business and political leaders, as well as investors across the country. Holding 31 Pulitzer Prizes for outstanding journalism, The Wall Street Journal provides readers with trusted information and knowledge to make better decisions. The Wall Street Journal print franchise has more than 600 journalists world-wide, part of the Dow Jones network of nearly 1,800 business and financial news staff. Other publications that are part of The Wall Street Journal franchise, with total circulation of 2.6 million, include The Wall Street Journal Asia, The Wall Street Journal Europe and The Wall Street Journal Online at WSJ.com, the largest paid subscription news site on the Web. In 2006, the Journal was ranked No. 1 in BtoB's Media Power 50 for the seventh consecutive year.
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