Zannino, who is currently chief operating officer, will take up the role on February 1, replacing Peter Kann. Kann remains in his role of chairman until 2007, when he will reach the mandatory retirement age of 65.
Zannino joined Dow Jones in February 2001 as executive vice-president and chief financial officer and was named chief operating officer in July 2002.
Before joining Dow Jones, he held senior finance, strategy and operating positions at companies including Liz Claiborne and Saks.
Zannino said: "Although I'm not a journalist, I strongly believe that, for Dow Jones, journalistic excellence and business performance are mutually reinforcing -- and I am deeply committed to both."
Dow Jones also revealed that Karen Elliott House, publisher of the Wall Street Journal, is to retire at the age of 58. House, who is married to Kann, will stay on to work with Zannino for the next couple of months before leaving.
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