Dow Jones


named Richard F. Zannino executive vice president and chief financial officer, replacing Jerry Bailey, who said last fall he would leave the company for personal reasons.

Most recently, Zannino, age 42, served as executive vice president of

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Liz Claiborne


. Zannino's appointment is effective Feb. 12.

Shares of Dow Jones, which is based in New York, lost $1.13, or 1.9%, to end

New York Stock Exchange

trading at $58.38.