Mumbai: Editor of financial daily Business StandardT.N. Ninan will step down by the end of this year and Sanjaya Baru will take over as the paper’s new editor on 1 January.
Ninan, who will turn 60 on 9 December, will continue to be associated with the paper as editorial director of Business Standard Ltd that publishes the paper. He will also remain the chairman of the firm.
Baru, who will join the paper in October as consulting editor and then take over as editor, will report to Ninan.
Change of guard: Ninan will take over as editorial director on 1 Jan. Ajay Aggarwal / Hindustan Times
Ninan announced the change in leadership to his senior colleagues on Wednesday afternoon. He also sent a signed email to all Business Standard journalists.
“I am pleased to announce the appointment of Sanjaya Baru as consulting editor of Business Standard, from 1st October 2009. This is on the understanding that Dr Baru will succeed me as editor of the newspaper on 1st January 2010. Dr Baru will report to me, initially as the editor of the paper and then as editorial director of the company. I will assume the later position on 1st January 2010, while continuing to be the chairman,” the email said. “I am confident that Dr Baru will lead the paper with distinction while continuing to espouse the editorial integrity and values that have made it what it is, and take it to greater heights.”
Ninan, former editor of The Economic Times and executive editor of India Today, took over as editor of Business Standard in June 1993 when it was run by ABP Pvt. Ltd that publishes the Anandabazar Patrika and The Telegraph.
Uday Kotak, vice-chairman and managing director of Kotak Mahindra Bank Ltd, and his family hold a majority stake in Business Standard through an investment vehicle.
Ninan also owns around a 5% stake in the company.
Baru has had a career in academics, journalism and government service. Till recently, he was working with the National University of Singapore following a four-year stint at the Prime Minister’s Office after being the editor of The Financial Express. In the 1990s, he also worked with The Economic Times, The Times of India and the Indian Council for Research on International Economic Relations.
The Business Standard has 12 English editions and seven Hindi editions across India. According to Akila Urankar, president, Business Standard, the English editions sell at least 161,000 copies and Hindi editions about 60,000.
The Business Standard competes with Mint, published by HT Media Ltd. According to the last round of the Indian Readership Survey (IRS), jointly conducted by MRUC and Hansa Research, Mint has a readership of 175,000 in Delhi and Mumbai. The Business Standard isn’t covered by IRS.