Time Warner names Jack Griffin the CEO of Time, replacing Ann Moore

Time Warner names Jack Griffin the CEO of Time

NEW YORK — Time Warner Inc. said Monday it has named Jack Griffin the CEO of Time, succeeding Ann Moore, who will retire at the end of September.

The move has been widely expected. Griffin, 58, left Meredith Corp., the publisher of Better Homes and Gardens, Parents and Fitness magazines among other titles, earlier this month.

Time Warner said Moore, 60, will stay on as chairwoman through the CEO transition. After that, Griffin will become chairman. The company did not give a time frame for the transition period and a spokeswoman would not comment beyond a press release issued Monday.

Time’s CEO transition comes at a rocky time for the magazine industry that’s been hurt by a deep advertising slump that is only now seeing some signs of easing up. Overall magazine ad pages declined 26 percent last year, leading to the closing of several popular magazines, including the iconic Gourmet.

Newsweeklies, especially, have had a difficult time carving out an audience niche, competing with constantly updated sources for news and commentary on the Internet. The Washington Post Co., for one, has agreed to sell the struggling Newsweek to Sidney Harman, the 91-year-old founder of audio equipment maker Harman International Industries Inc. earlier this month.

Time’s announcement follows another recent magazine executive shake-up: publisher Conde Nast announced several management changes in July, including splitting the roles of president and CEO.

Shares of Time Warner added 24 cents to close at $32.60 Monday.