Joseph A. Ripp will become CEO of Time Inc. in September, Time Warner Inc. announced. Mr. Ripp currently is CEO of OneSource Information Services Inc.
Time Warner announced plans in March 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.
"(Joseph Ripp) 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," Jeff Bewkes, Time Warner chairman and CEO, said in a statement. "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 as assistant comptroller, and was promoted to senior vice president, CFO and treasurer of Time Inc. in 1993. He then served as executive vice president and CFO of Time Warner Inc. from 1999-2001, when he became CFO of America Online. He left AOL in 2004.
"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," Mr. Ripp said.
After leaving Time Warner in 2004, Mr. Ripp held top positions at Dendrite International and the Journal Register Co. In 2010, he entered into a partnership with private equity firm GTCR to form Cannondale Investments, which acquired OneSource Information Services.
Mr. Ripp has served as a member of the board of directors of Greenfield Online, Whittle Communications and American Express Publishing.
He serves on the board of trustees of Manhattan College and the board of directors of the Advertising Educational Foundation.
He succeeds Time Inc. CEO Laura Lang, who advised Time Warner that she didn't want to continue in the role following the spin-off.
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