Byrne was one of the top editors who had been slated to make the jump to Bloomberg. Instead, he plans to move to San Francisco and launch a digital media company, he wrote in a memo announcing his departure.
Byrne has worked at BusinessWeek for 22 years in two separate tours of duty with the magazine. From 2003 to 2005, he left BusinessWeek to work at Fast Company as editor in chief. In his memo, Byrne wrote, "Norm Pearlstine and the rest of the Bloomberg team will bring lots of new ideas and new resources to BW that make me excited about the brand’s future. I’ll be its biggest cheerleader from afar."