MUMBAI: Jim Walton has told US news broadcaster CNN that he will step down as of CNN Worldwide president at the end of this year. He will, however, continue in his current role until that time.

Jim?s decision has the support and respect of Turner Broadcasting CEO Phil Kent as he leads the search for Walton?s successor.

Walton?s note to staff reads: "After more than 30 years at this company and nearly 10 years as the leader of this great news organisation, I have decided to leave my role at CNN on 31 December 2012. For some time, I?ve been talking with Phil Kent about wanting to make a change, and he supports my decision. I?ve told Phil that I will cooperate with any transition timeline that he and Time Warner want to implement. Phil requested that I work out the year and be available after that if needed, which I?ve agreed to do."

"I am proud of what we have accomplished together over these last 10 years ? innovative programming, the development of great talent in front of and behind the cameras, expansion in digital and mobile, significant investment and expansion in international coverage, financial success and, most importantly, great and trusted journalism.

"CNN needs new thinking. That starts with a new leader who brings a different perspective, different experiences and a new plan, one who will build on our great foundation and will commit to seeing it through. And I?m ready for a change. I have interests to explore and I want to give myself time to do it.

The next few months will be filled with election news and other important events.

Time Warner chairman, CEO Jeff Bewkes said, "When Jim Walton assumed the presidency of CNN in 2003, it was underperforming and earnings were in serious decline. Since then, he and CNN have tripled earnings, doubled margin and delivered annual growth of 15 per cent. In his nearly 31 years of uninterrupted and distinguished service to CNN, Jim has been instrumental in growing the business into the financial powerhouse it has become, while establishing the brand as the worldwide leader for television news."