Rich Battista Named Time Inc. CEO
Joe Ripp steps down after three years in top role; will continue to lead the board of directors.
Time Inc. has named Rich Battista president and CEO, effective immediately. Battista replaces Joe Ripp, who had held the top role since before the company's spinoff from Time Warner two years ago, and will continue to serve as executive chairman of the board of directors.
“I am deeply grateful to have had the opportunity to lead this tremendous company for the past three years, and I am excited about its future," said Ripp in a statement. "We have made real progress in the transformation into a multimedia, multi-platform enterprise. As we look to the next phase of our strategy, Rich is the right choice to execute our plans and deliver shareholder value.”
Battista joined Time Inc. in the spring of 2015 to head up the People and Entertainment Weekly division. This is his third promotion since that time; he was named President of Brands in July.
“I am thrilled and honored to lead this great organization and its exceptionally talented employees, particularly as we aggressively move to unlock the enormous potential of our brands across the media landscape," said Battista. "During this dynamic time in media, we are transforming Time Inc. to a cross-media company and are uniquely positioned to leverage our brands, scale, data and insights to significantly grow new lines of business in service to advertisers, marketers and consumers."
This is a developing story.