As part of the restructuring, group publisher Mike Dukmejian and Lisa Bentley, group associate publisher, are leaving Time Inc. Michael Federle, group publisher, has agreed to stay on through the end of the year as a senior adviser to Shah.
The Time Inc. Business and Finance Network, which includes Fortune, Money, Fortune Small Business magazines and CNNMoney.com, has been rebranded as the Fortune/Money Group, starting today. Group president Vivek Shah said he is creating a new sales and marketing organization that will be overseen by one executive (who has yet to be named) but will be responsible for all print and digital advertising revenue. In an internal memo to employees, Shah said, “We will conduct an exhaustive search to identify the right person for this key position.” Also, as part of the reorganization, Hugh Wiley, group associate publisher, is now the publisher of Fortune and Brett Wilson, previously associate publisher/North America for Time magazine, is now the publisher of Money. They will both report to the new head of ad revenue. Wiley and Wilson will also be hiring marketing directors to assist in the development of brand-level opportunities. In addition, Alan Ives is CNNMoney’s new senior vice president of sales. Ives joins the Web site from ABC, where he was vice president of digital media sales.