The veteran print media executive who led Time Inc. through its spin-off from Time Warner in 2014 is stepping down as chief executive after three tumultuous years in the big chair. He will be replaced by Rich Battista, the TV executive credited with transforming TV Guide, who has been with Time Inc. since last year, the company said today.
The magazine empire behind more than 100 brands—including People, Sports Illustrated, Entertainment Weekly, and Time magazine—has undergone a series of layoffs and structural changes over the last few months. The company has struggled since its IPO to sufficiently grow digital revenue in the face of print revenue declines.
Ripp will continue to lead Time Inc.'s board of directors as executive chairman. CZ