Dean Baquet, 57, the paper's managing editor, has been named as the replacement².

 

Arthur Sulzberger Jr, chairman of the New York Times company, gave no specific reason, but spoke³ of an "issue with management in the newsroom".

 

Ms Abramson, 60, was appointed in 2011.

 

In a statement, she said: "I've loved my run at The Times. I got to work with the best journalists in the world doing so much stand-up journalism⁴."

 

A spokeswoman rejected reports that there had been friction⁵ when Ms Abramson discovered her male predecessor⁶ had a more lucrative⁷ pay deal, saying that was incorrect. 

 

Mr Baquet, a Pulitzer Prize-winning journalist who formerly⁸ edited the Los Angeles Times, will become the first African-American to lead the paper.

 

Shares in the company fell more than 4.5%, ending the day at $15.06.

 

The New York Times recently reported net income of $1.8m, and said that both print and advertising⁹ sales had grown for the first time in several years.

 

Also on Wednesday, Natalie Nougayrede, editor in chief of Le Monde, quit after a power struggle with senior staff.

 

In a letter, published on Le Monde's website, she wrote of "personal attacks" that impeded¹⁰ her plan to turn around the newspaper.

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