Stepping Down | featured news

James Murdoch, the executive at the epicenter of the phone hacking scandal at his father's British newspapers, is stepping down as executive chairman of News Corp.'s U.K. newspaper arm, the company announced Wednesday.

Angela Merkel's hand-picked choice for the ceremonial post of president resigned on Friday in a scandal over political favors, dealing a blow to the German chancellor.

World Bank President Robert Zoellick said he plans to step down in June at the end of a five-year term in which he led the institution through a volatile period in the global economy.

Michael Williams, the chief executive of US mortgage giant Fannie Mae, will step down once a successor has been found, the company says. Mr Williams was put in charge of Fannie Mae in 2009 after the firm had been rescued by the US government at the height of the financial crisis.

Mikhail Gorbachev, who resigned as Soviet president 20 years ago Sunday, has urged Prime Minister Vladimir Putin to follow his example and step down....

This week's resignation of New York Times chief executive Janet Robinson caught even senior executives by surprise. But for several years she had come under criticism for digital missteps.

Janet Robinson will step down as chief executive of the New York Times Co at the end of the month after a seven-year run in which she attempted to steer the company through one of the harshest business environments it has ever faced.

A key player in implementing President Obama's health care law is stepping down in the face of Republican opposition. Don Berwick, the head of Medicare and Medicaid, was a recess appointment made by Obama after Senate Republicans had vowed to vote down his nomination.

DUBAI (Reuters) - Yemeni President Ali Abdullah Saleh signed a Gulf initiative on Wednesday to hand over power to his deputy as part of a proposal to end months of protests that have pushed the Arab country to the brink of civil war.

Freddie Mac's chief executive, Charles E. "Ed" Haldeman Jr., will step down by the end of the year, the regulator of the company said on Wednesday.