Time Warner Inc. (NYSE:TWX) today announced that Joseph A. Ripp will become the Chief Executive Officer of Time Inc. Mr. Ripp, a former top Time Inc. and Time Warner executive, is currently the Chief Executive Officer of OneSource Information Services, Inc. and will begin his new role in September.
In March, Time Warner announced plans for the legal and structural separation of Time Inc. from Time Warner through a spin-off. Following the separation, Time Inc. will be an independent publicly traded company.
Time Warner Chairman and CEO Jeff Bewkes said: “Joe is a seasoned executive who has been immersed in the intersection of digital, advertising and publishing for the past decade. He is respected as a strategic leader who has delivered financial results throughout his career, and he also happens to have a thorough understanding of Time Inc.’s business. We have great confidence that Joe will maximize Time Inc.’s iconic brands, scale and industry-leading position to create value for its stockholders.”
Mr. Ripp began his media career at Time Inc. in 1985, and held several executive level positions there and at Time Warner over the course of nearly 20 years. Mr. Ripp first joined Time Inc. as Assistant Comptroller and was elevated to Senior Vice President, CFO and Treasurer of Time Inc. in 1993. Mr. Ripp then served as Executive Vice President and CFO of Time Warner Inc. from 1999 to 2001, when he became CFO of America Online . In 2002, Mr. Ripp was named Vice Chairman of America Online where he oversaw advertising, technology, operations, marketing, human resources and legal until he left the company in 2004.Mr. Ripp said, “I’m privileged to have this rare opportunity to lead a company I’m passionate about at such a significant moment in its history and future. Knowing Time Inc. as I have, I’m confident that it has all the elements for success as it enters a new chapter as an independent public company– industry leadership, strong executives, powerful brands, great journalistic talent, and a track record of innovation.”
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