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A host of challenges confront Mark Thompson as he officially takes over as chief executive of New York Times Co, from making the company less dependent on advertising to trimming costs to figuring out what to do with its pile of cash.

The child abuse scandal that has enveloped one of Britain's most respected news organizations is now hitting one of America's, as the incoming president of The New York Times is on the defensive about his final days as head of the BBC. Mark Thompson was in charge of the BBC in late 2011 when the broadcaster shelved what would have been a bombshell investigation alleging that the late Jimmy Savile, one of its biggest stars, was a serial sex offender.

New York Times new Chief Executive Mark Thompson will receive an annual base salary of $1 million and is eligible for sign-on incentive awards valued at $3 million in company stock and stock options.

The New York Times Co has tapped BBC's Mark Thompson as its next president and chief executive, capping an eight-month search for an executive to lead the company as more people get their news through digital products.

This week's resignation of New York Times chief executive Janet Robinson caught even senior executives by surprise. But for several years she had come under criticism for digital missteps.

Janet Robinson will step down as chief executive of the New York Times Co at the end of the month after a seven-year run in which she attempted to steer the company through one of the harshest business environments it has ever faced.