In preparation for its planned spin off from Time Warner Inc. (NYSE:
TWX) into an independent public company, Time Inc. today announced three
major additions to CEO Joe Ripp’s leadership team and a reorganization
of editorial operations.
Norman Pearlstine is returning to Time Inc. as Executive Vice President
and Chief Content Officer, a newly-created position. Lynne Biggar is
joining Time Inc. as Executive Vice President of Consumer Marketing and
Lawrence Jacobs is joining Time Inc. as Executive Vice President and
General Counsel.
In a move to decentralize editorial operations, Time Inc. editors will
now report directly to the Group Presidents of their respective
divisions: David Geithner for Style & Entertainment, Evelyn Webster for
Lifestyle and Todd Larsen for News and Sports. In his new role as Chief
Content Officer, Pearlstine will have oversight of editorial policies
and dotted-line responsibility for editors. In addition, he will seek
new growth opportunities for Time Inc. brands across all platforms. Time
Inc. Editor-in-Chief Martha Nelson will be leaving the company with the
implementation of the new organization which eliminates the position of
Editor-in-Chief and the current editorial reporting structure.
Pearlstine served as Time Inc.’s Editor-in-Chief from 1994 through 2005.
During much of his tenure, he was also responsible for the business side
of Time Inc.’s television, internet and international operations. He has
spent the past five years at Bloomberg, L.P. as Chief Content Officer
playing an active role in the expansion of Bloomberg’s television,
radio, magazine and digital products. He also served as Chairman of
Bloomberg Businessweek and Bloomberg Government, a web-based
subscription service covering legislative and regulatory issues. Prior
to Bloomberg, Pearlstine was a Senior Advisor to the Carlyle Group,
focusing on the media and telecommunications sector for the private
equity company.
“As our business continues to face headwinds and we prepare to go
public, it’s imperative we develop a larger vision for what our brands
can become,” said Joe Ripp. “I am confident Norm—together with our
business leaders and editorial teams—will develop exciting new content
and brand experiences for our audiences that will reinvigorate the
franchise and fuel future revenue growth. Norm has deep knowledge of our
editorial operations and great respect for the journalistic heritage of
Time Inc. In this new role, he will challenge us to move faster and
experiment relentlessly with a constant commitment to quality.”
“I believe a big part of the role of Chief Content Officer is to foster
entrepreneurship throughout the company,” said Pearlstine. “I look
forward to forging a new sense of partnership between the creative and
business sides of Time Inc.”
Commenting on Martha Nelson, Ripp said: “I want to acknowledge the
innumerable contributions Martha Nelson has made to Time Inc. She has
been a driving force for more than 20 years and has helped build some of
our most vibrant brands. She has also been a real leader and role model
to many. I thank her for her years of commitment and respect her
decision to move on at this time.”
“I am very proud to have been part of Time Inc.’s history and to have
had the privilege of creating and working with some of the best brands
in the world. As this era ends and another begins, I leave Time Inc.
confident in the vision and commitment of the entire editorial staff. I
believe in the future of our brands and the talented people of Time
Inc.,” said Nelson.
Lynne Biggar is joining Time Inc. from American Express Company where
she spent more than 20 years in a variety of strategic marketing and
general management roles, most recently as Executive Vice President and
General Manager for International Card Products and Experiences and a
member of the company's Global Management Team. In this role, Biggar led
a global team of 2,800 focused on driving Card product strategy and
travel and lifestyle benefits. Previous roles include leadership of
American Express’ industry-leading loyalty program as Executive Vice
President and General Manager of U.S. Membership Rewards & Strategic
Card Services, and senior leadership positions overseeing the Company's
consumer travel business and customer acquisition efforts.
Commenting on the appointment, Ripp said: “Lynne is a world-class
marketing executive, and we are delighted to attract someone of her
caliber to take on this key role. No other company has a stronger
relationship with its customers than American Express, and we believe
Lynne is the perfect executive to help us leverage our data and
relationships in meaningful new ways.”
Lawrence Jacobs joins the company after spending more than a decade at
News Corporation as Senior Executive Vice President and Group General
Counsel where he oversaw all legal matters, including the acquisitions
of DIRECTV and Dow Jones/Wall Street Journal. Most recently, he served
as Executive Vice President, Legal & General Counsel for the state of
New York’s Empire State Development Corporation. He will succeed
Executive Vice President and General Counsel Maurice Edelson, who will
move to Time Warner as Senior Vice President and Deputy General Counsel.
“Lon has deep public company experience with one of the world’s leading
media organizations. He will be a valuable asset to us as we move to
become an independent public company,” commented Ripp. “Maurice has
helped guide this company for many years and I thank him for his
leadership as he takes on a new role with Time Warner.”
About Time Inc.
Time Inc., a division of Time Warner, is one of the largest branded
media companies in the world reaching more than 130 million Americans
each month across multiple platforms. With influential brands such as
TIME, PEOPLE, SPORTS ILLUSTRATED, InStyle, and REAL SIMPLE, Time Inc. is
home to celebrated events and franchises including the FORTUNE 500, TIME
100, PEOPLE's Most Beautiful and SPORTS ILLUSTRATED'S Sportsman of the
Year.
Copyright Business Wire 2013