FT.com MD quits

- Managing director Michael Foster has left FT.com in what insiders describe as a reshuffle aimed at maximising resources.

- Managing director Michael Foster has left FT.com in what insiders describe as a reshuffle aimed at maximising resources.

Foster has been credited with establishing the Financial Times' online offshoot as one of Britain's top websites. The site currently has over 1 million registered users and over 30 million page impressions per month.

Foster will be replaced on an interim basis by Michael Murphy, managing director of the magazine arm FT Business, and Zack Leonard, managing director of the CBS collaboration FT Marketwatch. The two will take control of integrating the FT's four websites, Investors Chronicle, FT.com, FT Marketwatch and FT Yourmoney.

Pearson, the parent company of the Financial Times, issued £250 million of stock in February, providing additional funds for online development.



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