New York—The Wall Street Journal Wednesday announced key management changes in its global news operations, effective May 15. Paul Steiger, who has been managing editor of the Journal since 1991, will become editor at large. Marcus Brauchli will succeed Steiger as managing editor. Under Dow Jones & Co. corporate policy, all senior managers must retire from the company by the end of the year of their 65th birthday. Brauchli, who joined Dow Jones in 1984 as a national copyreader with AP-Dow Jones, was appointed global news editor in 2003 and made deputy managing editor in December 2005.