By Keach Hagey
Jim Walton, the president of CNN Worldwide, has announced that he will step down at the end of the year, CNN announced Friday.
Mr. Walton has led the news organization for nearly 10 years, a period in which CNN has fallen behind competitors Fox News and MSNBC in the ratings. In recent months, CNN has experienced some of its lowest ratings in decades.
"CNN needs new thinking," Mr. Walton said in a statement. "That starts with a new leader who brings a different perspective, different experiences and a new plan, one who will build on our great foundation and will commit to seeing it through. And I'm ready for a change."
CNN is a unit of Time Warner Inc. (TWX), while Fox News is a unit of News Corp. (NWS, NWSA), which also owns The Wall Street Journal. MSNBC is owned by Comcast Corp.'s (CMCSA) NBCUniversal.
Write to Keach Hagey at Keach.Hagey@wsj.com