Time Inc. has named Rich Battista President and Chief Executive Officer of the company, effective immediately, succeeding Joe Ripp. Battista will be joining the Time Inc. Board of Directors and Ripp will continue to lead the board as Executive Chairman.

“I am deeply grateful to have had the opportunity to lead this tremendous company for the past three years, and I am excited about its future,” said Ripp. “We have made real progress in the transformation into a multimedia, multi-platform enterprise. As we look to the next phase of our strategy, Rich is the right choice to execute our plans and deliver shareholder value.”

“I am thrilled and honored to lead this great organization and its exceptionally talented employees, particularly as we aggressively move to unlock the enormous potential of our brands across the media landscape,” said Battista. “During this dynamic time in media, we are transforming Time Inc. to a cross-media company and are uniquely positioned to leverage our brands, scale, data and insights to significantly grow new lines of business in service to advertisers, marketers and consumers. I am eager to get started and to win.”

Prior to joining Time Inc. in 2015, Battista served as CEO of Mandalay Sports Media. Before that, he held several senior management roles at Fox Television, and is a former CEO of Gemstar-TV Guide International.

Said John Fahey, Lead Independent Director: “On behalf of the board, I want to thank Joe for his work as CEO over the past three years. We are grateful for his leadership and are happy that he will continue with the company as Executive Chairman. Rich is a strong, experienced business builder who has an excellent grasp of our strategy and brands. We are confident that he is the right leader for the future.”