Factiva's Hart moves up to Dow Jones

Factiva has announced that its ceo and president Clare Hart has been promoted to an executive vice president position at Dow Jones. 

Hart will serve as president of Dow Jones Enterprise Media, one of three new business groups created after a company-wide restructuring.

In her new role, Hart will be responsible for Dow Jones Newswires and Dow Jones Indexes. Her promotion comes amidst a structural overhaul that will see around 20 jobs cut and which aims to make savings of $8m per annum.

Three new customer-facing divisions - consumer media, enterprise media and community media - are being formed, whereas previously the company was organised on publishing lines - print, electronic and community newspapers.

Factiva will now be headed by interim ceo Claude Green, currently deputy ceo at the company, while the Factiva board decides on a successor. Hart will retain links with Factiva through a seat on the main board.

Hart took over the top job at Factiva in January 2000, eight months after the joint venture between Dow Jones and Reuters was formed. She is credited with being instrumental in creating a single culture for the company, and leading online development efforts which recently resulted in the launch of Factiva Search 2.0.

“Clare is a very talented executive who has helped to build a strong and growing business in Factiva. This is a great opportunity for her, and we wish her well,” said Tom Glocer, Reuters ceo.

Added Rich Zannino, newly installed ceo at Dow Jones: "From the strong relationships with customers and partners to the launches of innovative products including the just-released Factiva Search 2.0 to continued financial improvement, Clare and her very talented team have provided the company with a solid foundation for the future.”

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