Joseph A. Ripp has been named Time Inc.'s new CEO, the company announced Monday. He'll head up the publishing division spin-off of Time Warner.
Ripp is currently the CEO of OneSource Information Services, Inc. but had held several positions at Time Warner since 1985. From 1999 to 2001, he was Time Warner Inc.'s CFO. He left the company in 2004, last serving as Vice Chairman of America Online.
Also read: Time Warner to Spin Off Time Inc. After Meredith Talks Fall Apart
"Joe is a seasoned executive who has been
immersed in the intersection of digital, advertising and publishing for the past decade," said Time Warner Chairman and CEO Jeff Bewkes. "We have great confidence that Joe will maximize Time Inc.'s iconic brands, scale and industry-leading position to create value for its stockholders."
"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," Ripp said.
Also read: Time Inc. Eyes Michael Klingensmith as New CEO
Minneapolis Star Tribune CEO and publisher Michael Klingensmith was rumored to be the front-runner for the job, though the NY Post reported on Thursday that negotiations with him had hit "a snag."
Ripp will start in September. He replaces Laura Lang, who said in March that she would step down as CEO as soon as a new one was found when Time Warner announced that it would spin its publishing division off into a separate company.