Corporate governance watchdogs probably won’t like the fact that CEO Joseph Ripp will also be chairman of the 10-member board after Time Warner spins off its publishing unit. After all, the directors are supposed to hold the CEO accountable. But at least the Time Inc board doesn’t have any apparent shrinking violets or corporate novices. Time Warner CEO Jeff Bewkes says the group has “a wealth of experience in publishing, electronic media, advertising, consumer-facing businesses, and technology that is vital for Time Inc’s future.” In addition to Ripp, the board will consist of: Interpublic Group former CEO David Bell, National Geographic Society former CEO John Fahey, Gartner Inc former CEO Manuel Fernandez, Tribune Co former CEO Dennis FitzSimons, Kraft Foods former co-CEO Betsy Holden, USA Networks founder Kay Koplovitz, former IBM SVP J. Randall MacDonald, former Cravath, Swaine & Moore partner Ronald Rolfe, and former Sony CEO Howard Stringer.
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