Lex Fenwick, founder and now former chief executive officer (CEO) of corporate venturing fund Bloomberg Ventures, was named CEO of business publishing and information firm Dow Jones & Company on Thursday.
Fenwick will take up the post on the 13th, replacing Les Hinton, who left Dow Jones, a subsidiary of media conglomerate News International, in July amidst the UK-based phone hacking scandal.
Fenwick joined Bloomberg in 1987, and performed a number of executive roles throughout his tenure before taking up the reins as chief executive when founder Michael Bloomberg decided to run for mayor of New York in 2001.
Fenwick later founded Bloomberg Ventures, a strategic venturing unit intended to expand Bloomberg’s product range through investment and incubation, in July 2008. Bloomberg Ventures has since been responsible for the launch of Bloomberg Link, Bloomberg Mart and Bloomberg Institute, all subdivisions of the main company.
Fenwick said: "Over 25 years at Bloomberg I have made many friends, learned an enormous amount, witnessed wonderful success and – above all else – experienced incredible loyalty. I am proud of what we built together."
Fenwick’s role at Dow Jones, will involve growing the Dow Jones brand internationally and developing the enterprise side of the business, providing premium business information to financial customers. Dow Jones already operates a number of finance news sources, its websites including Dow Jones Newswire and Marketwatch, and its print output the Wall Street Journal.