Mr Targett will be charged with growing FT.com's online readership and exploiting the growth of web advertising. He joined the Financial Times in 1996 and moves from his role as features editor with the Business Life section.
Deputy editor Chrystia Freeland has been appointed to the additional of role electronic services editor, a new position highlighting the increasing importance of the FT's digital publishing services. As well as online news, the FT provides paid-for services for PDAs, a desktop news service and PDF services.
"This is a crucial period for the FT in moving from being an exclusively print-based news organisation to one that combines print and online delivery in innovative ways," said Andrew Gowers, FT editor.
"The aim now is to establish a richer and more interactive relationship with our readers and online users, and to offer them an ever-increasing range of ways to gain access to FT content."
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