Fortune named Anastasia Nyrkovskaya as its next CEO on Tuesday, making her the first woman to lead the 95-year-old publication.
Nyrkovskaya will take over the role from Alan Murray, who announced in October that he would be stepping down after nearly 10 years at Fortune. Nyrkovskaya has served as the chief financial officer and chief strategy officer since 2019.
“She is well prepared for the job, having been at my side for the last five years. She is the architect of our strategy to diversify revenues, which has enabled us to grow substantially since our independence and allowed us to record three straight years of profitability—pretty rare in this business,” Murray wrote in a blog post on Tuesday. “She is the right person to lead Fortune at this time.”
In an interview with the New York Times, Nyrkovskaya said that Fortune is profitable and has added over 130 roles in the last 12 months across the editorial and business departments of the publication.
“We have created a foundation of profitable growth, thanks in large part to Anastasia’s efforts,” Murray wrote. “At the same time, we have invested in our journalism and expanded our reach, increasing our audiences by three-fold over the last few years, thanks to the great work led by our editor-in-chief Alyson Shontell.”
More than 40 percent of the company’s current revenue comes from digital subscriptions and advertising, Nyrkovskaya told NYT. Branded conferences and events make up 30 percent, while print subscriptions and advertising make up approximately 25 percent of revenue.
Nyrkovskaya added that Fortune has consciously diversified its revenue streams but adding different live events to cater to the business-minded consumers of Fortune. She also added that the company is working on an artificial intelligence-based project, which will be announced soon.
“The overarching goal for the company is growth,” Nyrkovskaya told NYT. “We think about the growth supporting journalism, investing in journalism.”
