After eight years at Hearst Magazines, President David Carey is stepping down.
In an internal email sent out on Monday, Hearst chief executive Steven Swartz said that the president and group head of the company’s magazine division will remain as chairman of that division through 2019 and assist in the search for his replacement.
The email also mentioned that Carey has also accepted a position as a fellow at the Harvard Advanced Leadership Initiative.
Carey led Hearst Magazines through a difficult time in the print media business, as both audiences and advertisers began to shift their attention and budgets online.
And back in 2013, Carey made the decision to hire Troy Young as president of digital media, to help rebuild the company’s digital content approach.
Alongside this occurrence, Hearst Magazines’ parent company has made strategic investments in a new generation of media companies, including:
- and Refinery29
According to the Wall Street Journal, Hearst is considering successors from both inside and outside the company.
Possible candidates from within Hearst are likely to include Troy Young and Joanna Coles, chief content officer.
In the email, Swartz notes:
“The magazine business worldwide, like all print media, faces change and challenge, but it’s an industry we’ve led for more than 100 years and we will continue to do so.”
Swartz also notes:
“Next year, David intends to spend part of his time at Harvard in an advanced program for business leaders looking to make more of a social service impact in the next stage of their life. When that program ends, I very much hope we can find a way to keep David connected to Hearst.”