The chief executive of News Corp Australia has resigned after less than two years at the post.

A statement was published earlier this morning on the Australian Stock Exchange website which made the announcement, saying Kim Williams was stepping down. The message brought with it consolation from News Ltd’s owner, media mogul Rupert Murdoch, who said: “Kim has been a steady and courageous leader at a time when our businesses have faced unprecedented pressure and economic challenge.”

Reports say Mr Williams will be replaced as early as this Monday by current News Corp executive Julian Clarke, who worked for Murdoch for 30 years, most notably as a former chairman of the Herald and Weekly Times.

International News Corp chief executive Robert Thomson said Mr Williams “has been a powerful, eloquent and effective advocate for media freedom and freedom of speech in Australia. His leadership against hastily conceived 'reforms' ensured that the vigorous and vital debate that has characterised our country will endure. We all owe him a debt of gratitude for that strong and principled stand.”

There have been no reports thus far detailing the reasons behind Mr Williams’ departure. The media company’s owner Rupert Murdoch has been making headlines this week over his alleged distortion of the media agencies within his control in an attempt to swing popular opinion against the current government in the upcoming election.