By Paul Thomasch and Jennifer Saba NEW YORK | Thu Dec 15, 2011 10:14pm EST
(Reuters) – Janet Robinson will step down as chief executive of the New York Times Co at the end of the month, as the company continues to struggle with advertising declines and a years-long slump in its share price.
The problems plaguing newspaper companies are well known. Readers have ditched print for digital, causing circulation and advertising revenue to plummet. Newspaper company Lee Enterprises last week succumbed to industry changes and filed for bankruptcy protection.
Robinson, who steered the company through one of the harshest business environments it has ever faced, underscored the struggle her company faces during a presentation at the recent UBS investor conference in New York.