NEW YORK, April 18 (UPI) -- The Wall Street Journal Wednesday named Marcus Brauchli, who oversaw the U.S. business newspaper's recent redesign, as its new managing editor.
Brauchli, 45, will replace Paul Steiger, 64, May 15, publisher Dow Jones & Co. said.
Steiger, managing editor since 1991, will become editor at large before retiring at the end of the year at age 65, the company said.
Brauchli, who joined Dow Jones in 1984 and was a foreign correspondent for many years, has been the newspaper's deputy managing editor since December 2005.
He led the team that redesigned The Journal in January into a physically smaller newspaper -- a move that has already saved the newspaper $5 million in newsprint costs. He also helped The Journal develop its Saturday edition.
Under Steiger's leadership, the newspaper won 16 Pulitzer Prizes, including two announced Monday. Steiger also oversaw the newspaper's expansion to four sections from two.
The announcement came the same day Dow Jones Chief Executive Richard Zannino said he expected less than half the company's revenue would come from traditional print operations by 2009.
Speaking at the company's annual meeting, Zannino said he hoped to cut the company's reliance on print publications further in the coming years.
