New York Times Co. Names Brian McAndrews, Joichi Ito to Board
The New York Times Co., adding technology experience to its board to help with its shift to the internet, named venture capitalist Brian McAndrews and the Massachusetts Institute of Technology's Joichi Ito as directors.
Mr. McAndrews, 53, is a partner with Madrona Venture Group. He is a former Microsoft Corp.executive and was previously president-CEO at aQuantive, the digital agency that Microsoft bought in 2007 for $6 billion.
Mr. Ito, 46, is director of the media lab at MIT. He was an early investor in many technology companies, including Flickr, Kickstarter and Twitter.
The Times Co. has been attempting to transform itself into a digital publisher as the print industry continues to lose ad revenue to the web. Even digital ad revenue, however, declined at The Times Co. in the first quarter.
The company also is searching for a CEO to replace Janet Robinson, who was fired in December. The Guardian reported Thursday that Mark Thompson, outgoing director general of the BBC, is in discussions with The Times Co. about succeeding Ms. Robinson as CEO, although the report also said Mr. Thompson is considering other options.
"Joi Ito and Brian McAndrews bring deep digital experience to the board of the Times Company, which will be invaluable as we continue our digital transformation," Arthur Sulzberger Jr., the company's chairman and publisher, said in a statement.
Mr. McAndrews and Mr. Ito bring the board to 13 members, The Times Co. said today.
-- Bloomberg News --