Business

Jack Griffin out as Time Inc. CEO

In a stunning development, Time Inc. CEO Jack Griffin is out after less than five months on the job.

Griffin will be succeeded by an interim management committee that consists of Time Inc. Editor-in-Chief John Huey, Chief Financial Officer Howard Averill and General Counsel Maurice Edelson.

Griffin, the former head of Meredith’s National Media group, had been tapped to succeed Ann Moore in August and had been rapidly shaking up the company.

Griffin had been personally handpicked for the job by Time Warner CEO Jeff Bewkes.

But in a memo that went out to Time Inc. employees, Bewkes said of Griffin: “His leadership style and approach did not mesh with Time Inc. or Time Warner.”

Time Inc., whose titles include Time, People, Fortune and Sports Illustrated, is the largest magazine media company in the US.