http://www.nypost.com/seven/10292008/business/
anns_time_for_a_change_135845.htm?&page=3
ANN’S TIME FOR A CHANGE
MOORE TO LAY OFF HUNDREDS IN NEW REALIGNMENT
Ed McCarrick
By KEITH J. KELLY
Last updated: 5:27 am October 29, 2008
Posted: 3:59 am October 29, 2008
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Among the top dogs on individual magazines who are known to be leaving is Ed McCarrick, a 35-year veteran of the company and the current president and worldwide publisher of Time magazine. He’s retiring.
“This was my choice,” McCarrick, 59, said yesterday when reached at his home in New Canaan, Conn.
McCarrick is an old-school publisher, whose career was built on relationships with ad agency executives, fostered on the golf course and over steak dinners and two-martini lunches of a bygone era.
He joined the company in 1973 as a sales trainee straight out of Manhattan College and learned the craft in the far corners of the Time Inc. empire in Boston and Minneapolis before moving back to New York in the mid-1980s.
He held ad sales jobs at Time, Life and People before moving into Time Inc. corporate sales. He got his first publisher role at Life in 1993.
He moved back to Time as publisher in 1999 and added the president’s title in December 2005.
McCarrick had developed a particularly strong bond with Jim Kelly, the longtime executive editor who moved into the top editor’s job when Walter Isaacson stepped down.
There’s nobody in the world I enjoyed more than Jim Kelly,” McCarrick said. “I mean no offense to Rick Stengel [the current managing editor], but Jim could complete my sentences for me.”
McCarrick was a second-generation ad salesman. His father worked for years at US News & World Report but died at 57, a mere six years after the younger McCarrick started working at Time Inc.
“My dad was always proud that I worked for Time. He considered it the gold standard,” he said. “And I still consider it the gold standard.”
But it’s one that has been under enormous pressure thanks to the changes sweeping the publishing world, and the defection of ad dollars to the Internet.
McCarrick said that time.com currently accounts for 12 percent of the revenue of the Time magazine brand, up from virtually nothing a few years ago. But ad pages in the print version have tumbled.
No replacement is expected to be named as president.
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