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Joseph Ripp Named Time Inc. CEO

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Joseph Ripp will be Time Inc.'s new CEO, Time Warner announced Monday.

Ripp is the CEO of OneSource Information Services Inc., and was previously CFO of Time Warner. He spent 20 years with the company in various executive roles, including as a senior vice president of Time Inc. He will start his new role in September, replacing current CEO Laura Lang as Time Inc. spins off into a separate company.

"Joe is a seasoned executive who has been immersed in the intersection of digital, advertising and publishing for the past decade," Time Warner CEO Jeff Bewkes said in a statement on Monday. "He is respected as a strategic leader who has delivered financial results throughout his career, and he also happens to have a thorough understanding of Time Inc.'s business."

The news comes after earlier speculation that the job would go to Michael Klingensmith, a former CFO at Time Inc.

Ripp will lead Time Inc. through the enormous transition, during which time the company will no longer have the financial support of Time Warner to fall back on.

Lang, who said that she would not remain in the position after the spinoff, will advise the magazines unit as it splits from Time Warner. In March, Time Warner announced that Time Inc. would become an independent, publicly traded company.

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Time Warner Names Joseph Ripp CEO of Time Inc.