Dow Jones interim CEO William Lewis plans to invest in digital products and journalism
Dow Jones interim CEO William Lewis has posted a memo to the company on its website to offer an update on its progress under his leadership, including news of further digital investment.
Lewis, who took up the position from Lex Fenwick following his surprise departure, told staff that he planned to review its strategy “to help create a culture of listening and open communication.”
He continued: “The medium-term goal is to work towards a budget process for FY15 that Anna Sedgley and her team will lead for me. This will help shape our focus and strategy, which we will begin to implement at the start of the fiscal year in July. This strategy will, to a large extent, be based on input from co-workers who have deep and detailed knowledge about their markets, their products and our customers and we do want to hear from all of you – so please take the opportunity to contribute to the discussion over the next few months.
“The other clear priority is to review our institutional strategy. As you may be aware we have created a DJX task force with cross-company representation in order to carve out next steps. This team has been working hard with input from many people. We look forward to sharing the outcome with you shortly and to working more closely with our institutional customers.”
He added that the company planned to expand its consumer business and invest in its digital products.
“Our journalism serves the most influential individuals around the world and it sets the standard for rigorous, quality reporting. Investing in our journalism and building our consumer brands is an unequivocal priority.
“We have world-class people and products at Dow Jones and I am truly excited about the opportunities and possibilities for growth and expansion.”
According to Reuters this morning, Fenwick’s departure was as a result of revenue slide within the business.