Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: The New York Times (NYSE: NYT) popped 12% in intraday trading today after announcing senior management changes.

So what: Jill Abramson is being promoted to executive editor from managing editor. She will be backfilled by Dean Baquet, who has worked for the Times since March 2007 as an assistant managing editor and Washington bureau chief. 

Now what: The leadership changes appear to be designed to better attune management to current industry and news dynamics. Abramson has spent the past year focused on the company's digital strategy as the newspaper industry has struggled to adapt to the Internet age. Baquet's Washington experience is valuable in an environment where the federal government has become more involved in traditionally nongovernmental matters. Bill Keller, who has been executive editor for eight years, will continue to write regularly for the company.   

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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.