Former Sony CEO Howard Stringer Named Director of Time Inc.
Time CEO Joseph Ripp will be board chairman after the company is spun out of Time Warner.
Sir Howard Stringer, the former chairman and CEO of Sony, will be a director at Time Inc. when that company is spun out from Time Warner sometime this quarter, the conglomerate said Tuesday.
Joseph Ripp, the CEO of Time Inc., will be chairman of the board of the soon-to-be separately traded company, and Stringer, along with eight others who also were named Tuesday will be independent directors.
The others are David Bell, a senior adviser to AOL and operating adviser to Pegasus Capital; John Fahey, the former CEO of Time Life who was recently appointed by President Barack Obama to be a member of the Smithsonian Board of Regents; Manuel Fernandez, the former executive chairman of food company Sysco; Dennis FitzSimons, the former CEO of Tribune Co., Betsy Holden, the former co-CEO of Kraft Foods; Kay Koplovitz, formerly the CEO of USA Networks; Randall MacDonald, the former CEO of Windham Mountain Resort; and attorney Ronald Rolfe, a retired partner at Cravath, Swaine & Moore.
"We have recruited a roster of world-class business leaders who are extremely committed to Time Inc.'s success," Time Warner CEO Jeffrey Bewkes said. "Collectively, they provide a wealth of experience in publishing, electronic media, advertising, consumer-facing businesses and technology that is vital for Time Inc.'s future."