Dow Jones’ Joint Venture

Clare Hart’s Bio

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Published in U.S. 1 Newspaper on February 2, 2000. All rights

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Women in Business: Clare Hart

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Dow Jones’ Joint Venture

Just a few short months after Dow Jones & Company

ripped away a piece of its interactive business to pair it with a

comparable part of Reuters’ business, the name of the operation

changed and the CEO resigned. The two business information databases

— Dow Jones Interactive and Reuters Business Briefings — paired to

become a joint venture last May. In November it changed the name to

Factiva, and in December it was looking for new leadership. A

39-year-old Dow Jones

veteran, Clare Hart, got the job on January 5.

With revenues exceeding $225 million, Hart’s operation has 750

employees in 30 countries, and it is charged with helping nearly 1

million subscribers make the best business decisions. "This millennium

year will be one we deliver the content, tools, and services that

advance our customers’ content integration efforts and

knowledge-sharing process to new levels," says Hart.

Hart had been vice president and director of global sales for Factiva,

and at the time of her promotion she was managing a third of Factiva’s

workforce. Still, this was a sudden ascent, one which would have been

accompanied by considerable stress. Actually, says the new CEO, though

it may sound self promoting, she turned to her own databases to get

information on how to do a quick, smooth changeover. "I can’t imagine

how a company goes through a situation like we went through and

doesn’t use a service to learn how another company dealt with the

problem." After perusing Factiva’s files on recent CEO changeovers,

she decided that a good communication plan was the key to melding two

different organizations.

"If anybody can work between these two camps, Clare can," says an

insider.

The Dow Jones portion of Factiva used to be known as Dow Jones

Interactive, but Dorothea Coccoli Palsho, CEO of Dow Jones Interactive

Publishing, retains all her other electronically delivered business

news entities including the preeminent Wall Street Journal Interactive

Edition — plus Dow Jones News Services, Dow Jones Publications and

Library Service, and Broadcast Services. Timothy Andrews, the first

CEO of the new firm, then known as Dow Jones Reuters Business

Interactive LLC, left to join an Internet startup launched by a

magazine group.

In addition to the national strength that Dow Jones has, Factiva

enjoys the international strength for which Reuters is known. Now

Factiva has begun to mix together both sets of proprietary content, so

everyone in the client base can get access to it. The content now

includes archival rights to the Wall Street Journal, content from more

than 7,000 international business publications, and information

sources in 20 languages. Some time this year Hart is supposed to be

coming out with a truly integrated service, available on the Web, that

combines information from both companies, plus lots more.

The market? Some say that Factiva is playing to a vanishing audience

— the professional searcher. But others quote figures that the

general business public’s appetite for good business information will

be $6 billion in two years, and Factiva aims to claim a lion’s share.

Hart says that the analytical side of programming — she did a double

major in computer science and finance at Drexel — prepared her for

just about any job. "When I made the decision, I remember thinking

that computers are going to be our way of life, and I did not want to

be sitting in a meeting someday and have the whole computer language

be completely foreign. You really understand the foundations of

business, and that helps you understand other aspects, like product

development and sales."

"Clare has real skill at several levels — technical, sales, and line

experience," says Mark Feffer, president of Tramp Steamer Media and a

former colleague of Hart’s at Dow Jones. "She knows what people will

want and has a real knowledge of how the technology works behind the

scenes. Factiva is in really good hands with her."

Top Of Page
Clare Hart’s Bio

Hart grew up in Morristown, where her father was a biochemist for

Warner Lambert and her mother raised her family and then worked for

the town of Morristown. Hart worked in a bakery in high school

where she learned that, in retail, your attitude can "either make it

or break it." She says the bakery owner was committed, and

that she really believed in him. "I have been very fortunate always to

have good bosses."

At Drexel she met her future husband,

Greg Baer, and decided not to take his name because, as she notes, she

simply could not be "Clare Baer." Also at Drexel, an engineering

school where the ratio of men to women is four to one, she learned

that "you are who you are. Thankfully, Dow Jones is very much like

that — you can be male, female, black, white, or green — as long as

you contribute and do your job. In an environment like Drexel, there

is no discrimination. It completely shed any kind of views that as a

woman I had to fight harder."

Though she may think like a programmer, Hart soon moved into sales,

and she has earned an MBA from Rider. While in college she worked in

cooperative programs at Marine Midland Bank and at a bank in northern

New Jersey. Then she spent 16 months at News Edge. She joined Dow

Jones in 1983 as a programmer analyst in the applications development.

As program manager of the Advanced Systems Group she helped create,

develop, and launch Dow Vision, a news-to-the-desktop product in 1990.

The following year she left Dow Jones for Desktop Data and established

a regional base for that company in the Rust Belt and Canada. Back at

Dow Jones in 1992 she was regional sales manager for the U.S. central

region and Canada. In 1994 she became sales director for the western

region for Dow Jones News/Retrieval and Dow Vision, the predecessor

products of Dow Jones Interactive.

In 1995 she was director of corporate news products. In 1996, as

director of enterprise marketing, she moved Dow Jones Interactive to

the World Wide Web. In 1998, as executive director of Enterprise

Products, she led the groups that supported the sale of electronic

news and information products to corporations.

Three years into her marriage, she to decide whether to give up her

Dow Jones job and follow her husband, who was in sales management for

American Express, to a job in the midwest. She relocated and went into

sales as well, but the following year Dow Jones lured her back, to be

a regional sales manager. Then it was his turn to make a big decision,

and he made a career change. "All his life he had a passion for

photography. It just made sense to give it a try," says Hart. Now they

live in Pennington and he is a successful nature and wildlife

photographer.

"We just took a chance," says Hart. "I believe so much in my husband.

I have often read that if you pursue your dreams and your passions you

will make as much money as in the job you gave up. And he is

incredibly supportive. We both have a passion for travel, and we

relate on that level. I have a busy schedule, but because he has 10

years in corporate he can relate to that."

With her new job she had to give up serving on a trade group’s board,

the Society of Competitive Intelligence Professionals, but she thinks

that time management can help anyone to "have a life." She and her

husband are subscribers to the New Jersey Shakespeare Festival and

attend shows at Paper Mill Playhouse and McCarter, as well as in

London, Philadelphia, and New York. "You have to make sure you have

some down time," says Hart.

When it came to taking over the top job, Hart says that it meant a lot

to her staff that she knew them and had a track record. "Where we do

have cultural differences (between Dow Jones and Reuters) we have been

able to resolve them. We are so driven by the idea that Factiva can be

number one in the marketplace, that while we have differences, we

joke, we put it aside, and then we get on with it."

When the announcement was about to go out, she took her cue from the

research she did on the Factiva database. Before the release went out

she talked to each member of the leadership team, and very soon after

the release was out she talked to the staff. Then she called key

customers directly. "I know a lot of them personally, and it was very

important for me to let them know that Factiva is running full steam

ahead with the complete support of the board."

It’s going well. "In a sales organization," says Hart, "you hear the

word from the organization if it’s not good, and the word has been

good."

"I want to be seen as very focused on the business, and very

driven," says Hart. But she has also in 16 years at Dow Jones tried

to respect people as individuals no matter what their jobs. So she was

particularly pleased to get congratulations from people at all levels

in the company. She remembers being an impatient child and having her

mother tell say "Clare, not everyone is like you, and you have to

learn to accept what everybody’s gifts are and work with the gifts God

has given you, and the gifts God has given to others."

When the announcement was made the chairman and chief executive

officer of Dow Jones & Company called to offer his congratulations.

"To get a call from Peter Kann is one thing, and you are flattered.

Not everybody becomes a CEO — it is a small club," she says. "And

also the operators here called me. To have a good response throughout

the organization — that meant a lot to me. That’s the kind of person

you want to be."

— Barbara Fox

Factiva, a Dow Jones & Reuters Company, Box

300, Princeton 08543-0300. Clare Hart, president and CEO.

800-369-7466; fax, 609-520-4660. Home page:

http://www.factiva.com.


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