Word: shepley
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...week. Munro, 49, was named chief executive officer and president of the diversified communications and forest products company. He will take over on Oct. 1, the date on which Heiskell, the current chairman and C.E.O., reaches the firm's mandatory executive retirement age of 65, and James R. Shepley, who will then be 63, steps down as president. (Shepley will remain a director, chairman of the executive committee and chairman of the Washington Star, a Time Inc. subsidiary.) At the same time, Ralph P. Davidson, 52, now a vice president and director, will become chairman of the board, reporting...
Munro, Davidson and Grum are all former magazine publishers, but unlike their two predecessors, they are not former newsmen (Heiskell began as a science editor at LIFE and Shepley served as Washington bureau chief for TIME). The new top executives emphasized, however, that they would retain Time Inc.'s commitment to quality publishing. "I'm not a journalist, but I've got ink in my veins too," says Munro. "It's the magazine group that makes this company different." While publisher of TIME, Davidson worked closely with the editors in the magazine's development...
During the eleven-year tenure of Heiskell and Shepley, Time Inc. has grown rapidly and diversified broadly. In the past three years alone, it acquired Inland Container, American Television and Communications Corp. (the nation's second largest cable-TV company), Book-of-the-Month Club and the Washington Star, relaunched LIFE and converted FORTUNE from a monthly to a fortnightly. In October the company will introduce a new science magazine, DISCOVER...
...almost six years this column has been the territory of Ralph Davidson. This week I am taking it over in order to report two important new executive assignments, including Davidson's. He is leaving the publisher's chair to join the office of President James R. Shepley. His assignment, as Shepley wrote in a memo to the staff, will be "to share the duties of my office and familiarize himself with all of Time Inc.'s major lines of business...
...Said Shepley: "It is vitally important that the Greater Washington area be served by two strong, competitive newspapers," adding his conviction that over time the Star would become "a highly successful paper...