Dow Jones exploring new ventures

The following announcement was made by Dow Jones & Co. CEO Les Hinton on Friday:

“As we seek to accelerate growth in our businesses, I am pleased to announce that we are expanding our commitment to developing new products. Leading this charge will be Ann Sarnoff, president of Dow Jones Ventures, who will strengthen both her team and resources. She will be charged with creating new consumer-driven products and businesses, focusing on digital products as well as Wall Street Journal conferences and events, for the Consumer Media Group (CMG) and Dow Jones. Ann will continue to report directly to me.

“The mission of Dow Jones Ventures will be to evaluate, develop and launch new businesses which extend our already strong brands. The group will also consider acquisitions. Ventures will coordinate with the other parts of CMG, including the Wall Street Journal Digital Network team, in identifying high-potential new business ideas. Successful ventures will be merged into our current structure for long-term management.

“We will continue, of course, to expect innovation and growth from within all areas of our business, but believe a separate team giving exclusive attention to new product development will enable a higher degree of speed, focus, and success.

“To enhance the team’s efforts, we will add executives to Ann’s group. Ellen Desmarais becomes director, Dow Jones Ventures. Previously, Ellen was director of strategy and planning for the Consumer Media Group where she identified new growth opportunities and led long-range planning for consumer media properties. Also joining the group as director, Dow Jones Ventures, is Dorothea Herrey. Dorothea was director of Franchise Development and Partnerships, and among other projects, has been leading development of a Wall Street Journal-branded conference franchise, including the new ECO:nomics event coming up in March. Ellen and Dorothea will join Dana Snyde, senior manager, who has been an invaluable part of Dow Jones Ventures for the past year and a half. Ann will add other executives to her team soon.

“Please join me in welcoming and congratulating our colleagues.”