New York Times Appoints Chairman

In a move long expected, Arthur Sulzberger Jr. was named chairman of New York Times Co., in addition to his post as publisher, the company said after a board meeting. Sulzberger, who became publisher of the New York Times in 1992, succeeds his father, Arthur “Punch” Sulzberger Sr., who stepped down as chairman and chief executive after a 24-year reign. Punch Sulzberger was given the title chairman emeritus and will remain on the board of directors, the company said. The company also appointed its president, Russell Lewis, to the post of chief executive. Company shares rose $1.56 to close at $56.06 on the NYSE.