By ET Bureau - November 08, 2022 3 Mins Read
TIME announced today that veteran media executive Jessica Sibley has been named Chief Executive Officer, effective November 21, 2022. Sibley, who joins TIME from Forbes, most recently as Chief Operating Officer, has built her career leading global revenue teams, launching innovative new initiatives and products, and driving significant growth for major media brands including The Wall Street Journal, Bloomberg and Condé Nast, in addition to Forbes, where she has contributed to record revenue growth over eight consecutive years.
The appointment comes as TIME approaches its centennial year and aligns with a period of record growth for TIME, including the launch of six new divisions: the Emmy Award-winning film and television division TIME Studios that has generated more than $100 million in revenue; a rapidly growing global live events business built around its iconic TIME100 and Person of the Year franchises; an industry-leading web3 division including the TIMEPieces NFT community; Red Border Studios, producer of award-winning branded content; the website-building platform TIME Sites, which TIME acquired earlier this year; and the sustainability and climate-action platform CO2 by TIME. Today, TIME reaches the largest audience in its history–more than 100 million people around the world across its platforms–and its iconic magazine, with more than 1.3 million subscribers, remains the largest U.S. print title in news.
Sibley succeeds Edward Felsenthal, who has been TIME’s Editor in Chief since 2017 and took on the additional role of CEO in 2018 when TIME became an independent company under the ownership of Marc and Lynne Benioff. Felsenthal will now become TIME’s Executive Chairman while remaining Editor in Chief, leading editorial, creative and content strategy for the brand across all of its global platforms and emerging initiatives.
“We are so excited to welcome Jessica to build on TIME’s momentum for the next phase of our growth. She has an extraordinary record throughout her career of delivering growth and innovation and building deep relationships with customers to ensure their success,” said TIME co-chairs Marc and Lynne Benioff. “We are grateful for Edward’s leadership as CEO over the past four years, and that he will continue to guide our content to ensure that TIME’s next 100 years are as impactful as the first.”
“It is an incredible time to join this brand whose impact and opportunity for growth is at an all-time high,” said Sibley. “What the world-class team at TIME has built to date is inspiring, and I am honored to lead the next phase of evolution and transformation, continuing to extend the authority and trust of the brand and delivering for TIME’s customers.”
Felsenthal said: “I am so proud of the work, innovation and growth at TIME over the past four years and of this incredible team that has made TIME the company it is today. I’m thrilled to bring my full focus to the trusted storytelling that is at the core of everything we do, and to work with Jessica and the team to keep bringing TIME to new levels of success.”
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