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Time Inc. restructures to focus on long-term growth

Editor of Fortune Magazine Alan Murray
Brad Barket | Time Inc. | Getty Images
Editor of Fortune Magazine Alan Murray

Time Inc. is changing its corporate structure in order to fuel "long-term growth."

Chairman and CEO Joe Ripp said in a memo to staff obtained by CNBC that the company's direction will continue its transformation efforts that began with its spinoff from Time Warner two years ago.

"Today's announcements are about positioning ourselves for long-term growth," he wrote. "A new structure will allow the organization to unlock and scale innovation while unifying processes and advertising opportunities critical to our future."

The restructuring involves grouping the company into three main categories: Brand development, advertising sales and editorial.

All brands will now be under president of brands and Time Inc. executive vice president Rich Battista. He will oversee brand editorial, development, marketing, public relations, operations, strategy, and Time Inc. video. Previously, he was president of entertainment and sports group and video, with titles "People," "Entertainment Weekly," "Sports Illustrated," "Golf," "People en Espanol," "HelloGiggles," and "Fansided" under his jurisdiction.

"I will have more details soon on the new structure, but generally speaking, by having our brands under one operation and by clustering similar brands together, it will create more nimbleness and efficiency and allow us to better leverage our scale," Battista wrote in his memo.

Executive vice president Evelyn Webster, who previously ran the brands group, will be leaving the company at the end of August.

The ad sales team is being restructured into three groups: Category sales, brand sales and digital. The U.S. ad sales team will report to chief revenue officer of global advertising, Mark Ford. Jen Wong will be at the helm of Time Inc's creative studio, The Foundry.

U.S. editors are now under chief content officer Alan Murray, formerly editor of Fortune Magazine. He is taking over from Norman Pearlstine, who will move over to the role of vice chairman, and will focus on international growth and additional projects.

Murray will work to expand audiences, with an emphasis on mobile, social and video. He will report to Battista on "on business and editorial matters and to me on matters of editorial independence and journalistic integrity," according to Ripp.