Two veteran Time staffers are moving up the magazine’s masthead.
International Editor Michael Elliott will become the new deputy managing editor, second in command to Managing Editor Rick Stengel, while Nancy Gibbs, a prolific cover story writer, moves into the No. 3 slot as executive editor.
Gibbs, a Time Inc. lifer in her mid-40s, has penned major cover stories, including part of Time’s award-winning 9/11 coverage.
Elliott, 60, is widely known as “Tsunami Survivor,” both because he was high and dry on a golf course in Thailand when catastrophe struck Southeast Asia in 2004, and because he has lasted through the layoffs that have shaken Time Inc. over the past several years.
He replaces Romesh Ratnesar, whom many thought was being groomed for Time’s top spot. Ratnesar, who authored “Tear Down This Wall” about Ronald Reagan and the fall of the Berlin Wall, is leaving to pursue outside writing projects. He will be a special contributing editor.
“It’s a win, win, win, situation,” Stengel said of the shift. “I’m getting the talent of Romesh as a writer and promoting two people, one of whom could be the face of the magazine in the future.”
Ratnesar worked closely with Josh Tyrangiel, who was also a deputy managing editor and presumed heir apparent — until November, when Tyrangiel was named editor-in-chief of BusinessWeek shortly after it was bought by Bloomberg.
Ratnesar was running day-to-day operations, and had been making noises about leaving when Tyrangiel jumped ship. Ratnesar was convinced to stay for a few more months.
“They were both groomed to be future editors of Time magazine,” said one source. “It’s a tremendous loss.”
One source said the promotions appeared to be a move away from the young turks — Tyrangiel and Ratnesar were both in their 30s — in favor of grown-ups who rose through the ranks. Elliott was seen as an outside candidate to succeed Jim Kelly in 2006, but the job instead went to Stengel.
Below the top two names on the masthead is a new layer of young editors: Radhika Jones and Jim Frederick, who were both moved into assistant managing editor jobs earlier this week, joining Michael Duffy, an AME and Washington bureau chief.
Stengel last year renewed his contract for what is believed to be another three-year term.
“I’m still having a good time,” said Stengel. “We were very solidly profitable last year, and we’ll make more this year. We still have a lot of things to accomplish.”
BW cuts
The ax has started swinging at BusinessWeek for the second time in just a few months.
Around 30 people are being sliced from the magazine.
Among the veteran writers pushed out yesterday were media writer Tom Lowry, Washington-based science writer John Carey and Michelle Conlin, who covered workplace issues.
All art, graphics and photo staffers — and all of their administrative assistants — were handed their walking papers.
David Carthas, formerly with defunct music magazine Blender, is the new photo director, replacing photo editor Ronnie Weil and her deputy, Scott Mlyn.
Richard Turley, who was im ported from London daily The Guardian, will be the new design director.
For the past few months, he has been se cretly working on the magazine’s sweeping re design, which is ex pected to give the weekly a more global business focus.
Andrew Horton, who was the art director, had been let go last year but stayed on under a freelance contract until two weeks ago.
Arthur Hochstein, the former Time design director, has also been working on the magazine for the past several months.
Robin Ajello, a senior editor and Burt Helm, a marketing and advertising writer, were offered spots at Bloomberg News.
The last downsizing that took place as McGraw-Hill was selling BusinessWeek to Bloomberg LP, the media company owned by Mayor Mike Bloomberg.
This time, the newly laid off are getting brusque treatment more typical of the new owners, insiders reported.
“They’re treating fired employees like the enemy,” said one source. “All Internet and e-mail has been shut down and some phone lines are disconnected. This makes no sense.”
“As we prepare for the launch of Bloomberg BusinessWeek on April 23, we are more deeply integrating our editorial team with Bloomberg’s, one of the world’s largest news organizations,” said Bloomberg spokesman Carl Fischer. “As a result, there are some job redundancies, as well as areas that we will be strengthening through new hires.”
At one point, the layoffs were interrupted by a mysterious electrical fire that erupted on the 43rd floor of the McGraw-Hill building, where BusinessWeek is still housed.
Arts boost
New York Observer owner Jared Kushner has said he plans to expand the arts coverage in his salmon-colored weekly. Now he’s hired veteran art writer/editor Alexandra Peers as an editor-at-large to head up the effort.
David Gursky, a former executive at Louise T. Blouin MacBain‘s LTB Media, is running arts on the business side.
Peers is an alum of The Wall Street Journal, where she was features editor of the Weekend section.
She nearly joined LTB Media three years ago to head up Art + Auction, Modern Painters and Artinfo.com, succeeding ex-Condé Nast Editorial Director James Truman.
But Peers quit over a money dispute with MacBain even before she took the helm.
For the past few years, she’s been freelancing for various publications and teaching college journalism.
“I think they are very serious about this,” Peers said. “We’re going to be doing four to eight pages a week.” Kyle Pope, the Observer’s editor-in-chief, said he expects the new section to debut on March 31.