"Ann asked me a year ago to take on this corporate challenge. I've had the opportunity to support the companies' brands, but my strength is to build them, and that's what I want to get back to," Ms. Domeniconi said, adding that the decision to leave the post was hers.
Wayne Powers, president of Time Inc.'s Media Networks Inc. and Targeted Media, will succeed Ms. Domeniconi, according to an internal memo this morning. His ascension suggests that the company, in the age of Google, may be placing new emphasis on tailored ad services, specialties at MNI and Targeted Media.
Responsible for sales and marketing
In his new post, Mr. Powers will be responsible for all corporate sales and marketing efforts for Time Inc.'s 130-odd brands across platforms as well as overseeing research, custom publishing, MNI and Targeted Media. His successor will be named soon, according to the memo. Mr. Powers could not be reached this morning.
Before the December 2005 shake-up, Ms. Domeniconi had been president and publisher of Time Inc.'s Real Simple, one of its biggest successes in recent years and a brand that has steadily expanded well beyond the printed page.
Ms. Domeniconi, 45, said she is in talks with Time Inc. parent Time Warner and others outside the family as well. "I would love to stay within the company," she said. "Ultimately I'm going to take time off to make the decision. For now I'm going to the gym."