TINA BROWN MEMO TO STAFF ON NEWSWEEK CEO SHETTY LEAVING COMPANY

(The following is a reformatted version of a staff memo
issued by Newsweek/Daily Beast Co., and received via electronic
mail. The memo was confirmed by the sender.) 
To: All Staff 
From: Tina Brown 
I wanted to let you all know that Baba Shetty is moving on as
CEO, taking the summer off to spend some time with his family.
He has presided over a terrific nine months of product
development and digital growth here, during which time he has
brought in and cultivated a dynamic digital team, led by Mike
Dyer. We wish Baba great success in his future ventures. 
I am delighted to announce that our accomplished international
publisher Rhona Murphy will be returning to New York as interim
CEO, supported by CFO Gary Starr, CAO and GC Randy Shapiro,
president Rob Gregory and Andrew Perlmutter, who will assume the
role of general manager of business operations and development. 
The Daily Beast has had a spectacular spell of growth, topping
16.6 million unique visitors in May on the heels of our second
Webby win for Best News site, and we are up 30% in ad sales. The
new digital edition of Newsweek continues to be received very
favorably - kudos to all of you for your continued efforts at
putting out a first-rate magazine week after week. And this is a
good moment to share the news that our social media community
has passed the 4 million mark for the first time, indicative of
how invested our readers continue to be in our content. 
Onward and upward! 
Best, 
Tina 
(kgt)NY 
#<630990.1895494.3.4.1.0.76>#
 
 
Press spacebar to pause and continue. Press esc to stop.