Hearst chief resigns after dispute

According to The New York Times, the chief executive of Hearst Corporation, Victor F. Ganzi, is stepping down from his position after a dispute with corporation's board of trustees over the company's future. Differences over how to adapt to a new Internet-savvy age has been a big issue for Hearst, but it has not been verified as the reason Ganzi resigned.
Ganzi will be leaving the publishing empire after nearly 30 years.
Frank Bennack Jr. will temporarily reassume the role as chief executive officer after stepping down in 2002 until a successor is found.
Hearst is a major owner of Wall Street Journal and Dow Jones & Company and publishes well-known magazine and newspapers, such as O, the Oprah Magazine, Cosmopolitan, the Houston Chronicle and the Seattle Post-Intelligencer.
Read more here.