News Corp. director Andrew Knight has been named chairman of Times Newspapers Holdings Ltd, the UK subsidiary that publishes The Times and The Sunday Times. Rupert Murdoch is stepping down as chairman of Times Newspapers as part of the proposed split of News Corp. into two distinct companies. Knight, who was once chairman of News Corp.’s UK press subsidiary, News International, has sat on the News Corp. board since 1991. He was also chairman of the Compensation Committee and a member of the Audit Committee of the board. He’ll officially resign from the board at the company’s annual meeting on Oct. 16. Murdoch said of Knight: “His experience and insight as a journalist and as an executive will be a huge asset to The Times and The Sunday Times as they face the challenges and seize the opportunities of the future.” Apart from running News International from 1990-1994, Knight’s journalism credits include serving as CEO and editor-in-chief of the Daily Telegraph and as editor of The Economist.