NEW YORK (AP) — Time Inc. is bringing back former editor-in-chief Norman Pearlstine as its chief content officer as the company prepares for its spinoff from Time Warner Inc.
Pearlstine served as Time Inc.'s editor-in-chief from 1994 through 2005 and was also responsible for the business side of the company's television, internet and international operations during that time. He spent the past five years at Bloomberg LP as chief content officer.
In his newly created role at Time Inc., Pearlstine will oversee editorial policies and responsibility for editors, as well as manage new growth opportunities for its brands, which include People, Sports Illustrated, InStyle and Real Simple.
Time Inc.'s editor-in-chief Martha Nelson will be leaving the company and the editor-in-chief position will be eliminated under the new structure.
The company also said Thursday that Lynne Biggar, a leader at American Express Co., will join Time Inc. as executive vice president of consumer marketing and Lawrence Jacobs, a News Corp. executive, will join the company as executive vice president and general counsel.
"As our business continues to face headwinds and we prepare to go public, it's imperative we develop a larger vision for what our brands can become," CEO Joe Ripp said in a statement, noting that the new team will help reinvigorate the business and fuel future revenue growth.
Time Warner Inc. shares rose 21 cents to $68.74 in midday trading, in line with the rest of the market.