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Jessica Sibley is set to replace Edward Felsenthal as CEO of Time, from Nov. 21.
Sibley was most recently COO at Forbes, and before that held executive stints at The Wall Street Journal, Bloomberg and Condé Nast. Felsenthal has been Time’s editor in chief since 2017 and took on the additional role of CEO in 2018.
He will now become Time’s executive chairman, while remaining editor in chief, leading editorial, creative and content strategy for the brand across all of its global platforms and businesses. “I’m thrilled to return my primary focus to our content, and to support Jess and the company as we continue to grow the brand and the business,” Felsenthal said in an internal memo.
Sibley’s appointment comes as Time launches six new divisions, including the film and TV division Time Studios, a live events business, a web3 division, Red Border Studios, the website-building platform Time Sites, and sustainability and climate-action platform CO2 by Time.
“It is an incredible time to join this brand whose impact and opportunity for growth is at an all-time high. What the world-class team at Time has built to date is inspiring, and I am honored to lead the next phase of evolution and transformation, continuing to extend the authority and trust of the brand and delivering for Time’s customers,” Sibley said in her own statement.
A copy of Edward Felsenthal internal note to staff follows:
This month marks four years since Marc and Lynne Benioff became Time’s owners and I took on the joint role of Editor in Chief and CEO. What an incredible journey we’ve been on since then–working together as founders to launch this amazing brand into its second century. Today, thanks to this incredible team and the commitment of our owners, we are a completely different company than we were in November 2018.
We’ve vastly expanded our editorial impact and our business success. We’ve gone from revenue decline to sustained revenue growth. We’ve transformed from a company built mostly around print to a diversified media company with a film and TV studio that’s generated more than $100 million in revenue and brought our Emmy total up to 17 nominations and 4 wins; a global events business that didn’t exist before and now brings in eight-figure revenue; an award-winning branded content studio; a web3 community that’s the industry leader; our newly acquired website-building platform, TIME Sites; our C02 sustainability division that will help guide companies to net zero and nature-positive; and more. Our journalism travels the globe reaching 100 million people across all of our channels, and our magazine remains the single largest U.S. print title in news with 1.3 million subscribers.
As we continue our growth, I’m excited to let you know that Jessica Sibley, an outstanding media executive who has built her career leading global revenue teams, will join us as CEO on Nov. 21. I will continue as Editor in Chief and take on the role of Executive Chairman. I’m thrilled to return my primary focus to our content, and to support Jess and the company as we continue to grow the brand and the business.
And I’m looking forward to all of you meeting Jess, who has an exceptional reputation as a leader of teams and driver of growth. She joins us from Forbes where she was most recently Chief Operating Officer, responsible for all revenue and operations. She led Forbes to consecutive years of record revenue results and launched many innovative products.
On a personal note, I’ve known Jess since the early ‘00s, when we worked together at The Wall Street Journal launching new products. She was then and has remained since one of the most innovative media executives I’ve worked with in my career. I’ve watched with admiration as she went on to become publisher of Bloomberg BusinessWeek and rise to major leadership positions at media companies including Conde Nast and Forbes.
Please join me in congratulating Jess and welcoming her to Time.
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