Mark Little is to step down as chief executive of Storyful, the company he founded in 2010, on the first anniversary of the company's acquisition by News Corp for €18 million in December 2013.

Rahul Chopra, who joined Storyful as chief revenue officer at the time of the News Corp acquisition, will become CEO of the social news agency, with Little taking on the newly created role of director of editorial innovation. Mr Little said that the move has been planned for some time.

In a statement, Robert Thomson, chief executive of News Corp said that the company will now have " twin pillars of development", with Mr Chopra leading the company's commercial operations and Mr Little continuing to drive its expanding editorial ambitions.

Mr Little said that the move means that he now has his “dream job”, as part of a team “building the most innovative company on a rapidly changing media landscape.”

Mr Little will continue to serve as the primary “ambassador” for Storyful, and shape the company’s thought-leadership in the news industry.