Jessica Sibley replaces Edward Felsenthal as CEO of Timefrom Nov. 21.
Sibley was most recently COO at Forbes, and previously held leadership roles at The Wall Street Journal, Bloomberg and Conde Nast. Felsenthal has been Time‘s editor-in-chief since 2017 and took on the additional role of CEO in 2018.
He is now Time‘s Executive Chairman, while remaining Editor-in-Chief, leading the editorial, creative and content strategy for the brand across all of its global platforms and businesses. “I’m excited to bring my primary focus back to our content and to support Jess and the company as we continue to grow the brand and business,” Felsenthal said in an internal memo.
Sibley’s appointment comes as Time launches six new divisions, including its Time Studios film and TV division, a live events company, a web3 division, Red Border Studios, its website building platform Time Sites, and sustainability and climate action platform CO2 by Time.
“It is an incredible time to join this brand whose impact and growth opportunities are unprecedented. What the world-class team at Time has built so far is inspiring, and I am honored to lead the next phase of evolution and transformation, continue to expand the brand’s authority and trust, and continue to deliver to Time’s customers. Sibley said in her own statement.
A copy of Edward Felsenthal’s internal note to staff follows:
Dear All,
This month marks four years since Marc and Lynne Benioff became the owners of Time, and I took on the joint role of Editor-in-Chief and CEO. What an incredible journey we’ve been on since then – working together as founders to launch this amazing brand into the second century. Thanks to this incredible team and the commitment of our owners, we are a very different company today than we were in November 2018.
We have greatly expanded our editorial impact and business success. We’ve gone from revenue decline to continued revenue growth. We’ve transformed from a company built primarily around print to a diversified media company with a film and TV studio that has generated over $100 million in revenue, taking our Emmy total to 17 nominations and 4 wins; a global events company that previously didn’t exist and now delivers eight-figure revenue; an award-winning branded content studio; a web3 community that is the industry leader; our newly acquired website building platform, TIME Sites; our C02 sustainability division that will help companies to become net zero and nature positive; and more. Our journalism travels the world reaching 100 million people across all our channels, and our magazine remains the largest US print title in the news with 1.3 million subscribers.
As we continue our growth, I am pleased to inform you that Jessica Sibley, an outstanding media executive who has built her career leading global revenue teams, will join us as CEO on November 21. I will continue as editor in chief and assume the role of executive chairman. I’m excited to bring my primary focus back to our content and to support Jess and the company as we continue to grow the brand and business.
And I look forward to meeting all of you Jess, who has an exceptional reputation as a team leader and growth driver. She joins us from Forbes, where she most recently served as Chief Operating Officer, responsible for all revenue and operations. She led Forbes to consecutive years of record sales and launched many innovative products.
Personally, I’ve known Jess since the early ’00s, when we worked together at The Wall Street Journal to launch new products. She was then and has remained since one of the most innovative media executives I have worked with in my career. I watched with admiration as she became a publisher of Bloomberg BusinessWeek and rose to key leadership positions at media companies including Conde Nast and Forbes.
Join me in congratulating Jess and welcome her to Time.
Best,
Edward