Time Inc names Sue D'Emic as CFO in latest management shuffle
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
(Reuters) - Time Inc (NYSE: TIME), the publisher of Sports Illustrated, People and Time magazines, said Chief Financial Officer Jeff Bairstow will leave the company after a three-year stint and would be succeeded by Senior Vice-President Sue D'Emic.
Bairstow, 57, will remain in the role till Nov. 7 and will stay on in an advisory role till March next year, the company said on Tuesday.
Time had appointed Rich Battista as its chief executive last month, succeeding Joe Ripp.
The latest management shuffle comes nearly two months after activist investor Jana Partners revealed a 5 percent stake in the company.
Time, like many publishers has been hit by a fall in print ad sales as advertisers spend more on other media.
The company's print ad revenue which accounts for 70 percent of ad sales, fell 12.8 percent to $299 million in the last quarter, from a year earlier.
Up to Monday's close, shares of Time had fallen 15.4 percent this year.
(Reporting by Laharee Chatterjee; Editing by Shounak Dasgupta)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
- Tensions rise at North Dakota pipeline as Trump set to take White House
- New York resident pleads guilty to trying to support Islamic State
Create E-mail Alert Related CategoriesReuters
Related EntitiesJANA Partners LLC, Barry Rosenstein
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!