Norman Pearlstine to Retire as Time Inc. Vice Chairman
The 74-year-old plans to advise early-stage domestic and international media firms.
Time Inc., the owner of Time magazine, Entertainment Weekly, People and Fortune, said Monday that vice chairman Norman Pearlstine will retire from the company on July 17.
The 74-year-old has been in his current post since July 2016 after having served as executive vp and chief content officer since October 2013 when he returned to Time Inc. to work on its spinoff from Time Warner.
He had previously served as Time Inc.'s editor-in-chief from 1995 through 2005. Following his retirement from Time Inc., Pearlstine plans to advise early-stage domestic and international media firms, including Money.net, where he serves as chief information architect. He also expects to do more writing about geopolitics, government and the media.
“When I moved from chief content officer to vice chairman a year ago, it was understood that this would be a natural bridge to my retirement a year later," said Pearlstine. "I’m grateful and proud to have spent 14 years at one of the most influential and storied media companies."
Time Inc. president and CEO Rich Battista said, "On behalf of everyone at Time Inc., I thank Norm for his influential leadership and his significant contributions. He helped break down historical barriers so that now editors can collaborate more closely with business-side colleagues. We will continue to build upon the strong foundation that Norm helped create.”
Prior to rejoining Time Inc. in 2013, Pearlstine was chief content officer at Bloomberg L.P., where he also served as chairman, Bloomberg Businessweek and co-chairman, Bloomberg Government. He is also a former senior advisor to The Carlyle Group's telecom and media team.
Pearlstine also worked for the Wall Street Journal for 23 years, including eight years as its managing editor. He also worked for two years as executive editor of Forbes magazine.
In April, Time Inc. said it would remain an independent company to pursue its own strategic plan despite takeover offers. "Over the past several months, there has been considerable speculation and news coverage regarding interest by various parties in acquiring Time Inc.," the company said at the time. "While Time Inc. had not initiated a process, the board of directors, consistent with its duties, evaluated a number of expressions of interest with the assistance of external advisors."