Time Inc. CEO restructures ahead of spin-off

NEW YORK — Time Chief Executive Officer Joe Ripp is reorganizing the structure of the magazine publisher and consolidating oversight as it prepares to spin off from corporate parent Time Warner, according to a memo to staff on Tuesday.

Time is eliminating three operating units — sports and news, lifestyle and entertainment — that divided its stable of titles such as Sports Illustrated and People.

The move to reorganize the publisher’s six-year-old structure comes as Time integrates American Express Publishing, which it bought last year, and prepares to separate from Time Warner this year.

Ripp:

“The performance of print and individual brands will always be important, but Wall Street’s focus will be on the performance of Time Inc and on our ability to grow beyond print.”

Ripp appointed Evelyn Webster and Todd Larsen to oversee the operations of about 100 titles. Both will report directly to Ripp.

Larsen is the former president of Dow Jones and the Wall Street Journal. Webster served as CEO of Time’s British publishing unit IPC.

Time also named Mark Ford as executive vice president of advertising sales, a position that has been unfilled since Paul Caine left the company last spring. Ford was most recently responsible for operations at Time’s Sports Group.

Source: Reuters

 

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