New York, October 31, 2013–-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.
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