Norm Pearlstine, who smashed the traditional barrier that separated the editorial and business side of the media, is stepping down from the Time Inc. vice chairman slot on July 17.
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Norm PearlstineThe 74-year-old ececutive, who served served as editor-in-chief of Time Inc. from 1995 to 2005, also worked as chief content officer at Bloomberg, senior advisor for Carlyle Group's telecom and team and managing editor of the Wall StreetJournal.
Pearlstine returned to Time Inc. following its spin-off from Time Warner to serve as chief content officer.
Rich Battista, CEO of Time Inc., praised Pearlstine's "influential leadership" and for encouraging editors to "collaborate more closely with their business side colleagues."
Time Inc. is cutting another 300 jobs as part of Battista's plan to reengineer the company's cost structure to help increase efficiency and provide funds to reinvest resources for long-term growth.
The company reported a first-quarter eight percent revenue slide to $636M, while red ink jumped to $28M from $10M.
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