Meredith Corp. switched the head of its magazine division just days after the unit that publishes Better Homes & Gardens and Ladies’ Home Journal reported solid results.
Yesterday, Jack Griffin, the president of the national media group, which includes the magazines, integrated marketing and Web properties, resigned and was replaced by Tom Harty, who was president of consumer magazines. Harty had been reporting to Griffin.
Griffin didn’t disclose his plans or return a call seeking comment. Insiders were stumped by the sudden move.
“Jack told us he is looking to accelerate his career and believes his best opportunity exists outside Meredith,” a spokesman said. “We respect his decision.”
For the fiscal year ended June 30, Meredith posted overall revenues of $1.39 billion, vs. $1.41 billion a year earlier. The company said it generated $192 million in cash flow, up from $181 million a year ago.