Press release from Business Wire
Joseph A. Ripp Named Chief Executive Officer of Time Inc.
Monday, July 22, 2013
Joseph A. Ripp Named Chief Executive Officer of Time Inc.11:00 EDT Monday, July 22, 2013
NEW YORK (Business Wire) -- 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.
Joseph A. Ripp (Photo: Business Wire)
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.”
After leaving Time Warner in 2004, Mr. Ripp was President and COO of Dendrite International, a leading provider of sales, marketing, clinical, and compliance solutions for the global pharmaceutical industry. From 2008 until 2010, he served as Chairman of Journal Register Co., owner of more than 50 newspapers and over 350 multi-platform products. In 2010, Mr. Ripp entered into a partnership with GTCR, a leading private equity firm, to form Cannondale Investments. In 2012, GTCR and Cannondale Investments acquired OneSource Information Services, Inc. As CEO of OneSource, Mr. Ripp built a world class, digitally focused marketing and information services platform that provides online business information and sales intelligence solutions.
Mr. Ripp was a member of the Board of Directors of Greenfield Online until it was sold to Microsoft in 2007. He has also served on the Boards of Whittle Communications and American Express Publishing. He currently serves on the Board of Trustees of Manhattan College and the Board of Directors of the Advertising Educational Foundation. He also serves as Chairman of the Board of Lighthouse International in NY and an Emeritus Director of the Ad Council.
Mr. Ripp will succeed Time Inc. CEO Laura Lang, who had advised Time Warner that she did not want to continue in the role following the spin-off. Mr. Bewkes added: “I want to again thank Laura for her professionalism and for her contributions to the company that have positioned Time Inc. well for this next phase in its history.”
About Time Warner Inc.
Time Warner Inc., a global leader in media and entertainment with businesses in television networks, film and TV entertainment and publishing, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide through multiple distribution outlets.
About Time Inc.
Time Inc., a division of Time Warner, is one of the largest branded media companies in the world. The company's magazines reach more than 110 million Americans each month, and its websites attract nearly 50 million unique visitors each month. 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.
Time Warner Inc.
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