It's Been A Privilege

Dear Readers: After more than 20 years as editor-in-chief of BusinessWeek, I will step down on Apr. 1, 2005. I am leaving to become the founding dean of a new Graduate School of Journalism at the City University of New York. The first class will arrive in August, 2006. My task is to help develop an innovative curriculum, hire a strong faculty, recruit promising students, and design a physical space for the school, which will be located in the old New York Herald-Tribune building on West 41st Street in Manhattan. I also hope to do some teaching. And, inevitably, I'll try to raise some money for the school.

This exciting challenge combines many of the things I care deeply about: journalism, public education, and New York City. Not least, it offers the chance to increase the participation of minorities and immigrants in our profession. I am a graduate of the City College of New York, and this new role stirs my soul. I'm excited by the prospect -- and a little nervous.

Naturally, leaving BusinessWeek is a wrenching experience. I have spent a total of 32 years at the magazine, working with hundreds of wonderful and talented people. I will miss this place -- the news, the deadlines, the arguments, and the sheer fun. Above all, I will miss my colleagues of long standing.

Who will succeed me at BusinessWeek? The next editor will be chosen as soon as possible. Several worthy candidates are being considered, both from inside and outside the magazine. The search -- being led by Terry McGraw, CEO of The McGraw-Hill Companies; Bill Kupper, president of BusinessWeek; and Scott Marden, head of our media group -- is nearly complete. I know all the candidates well, and each of them is capable of doing a super job. You will be in good hands. Meanwhile, we will continue to produce the best business magazine in the world and to expand the franchise around it.

It's been a profound pleasure to serve so many loyal readers.

Thanks for everything.

By Stephen B. Shepard, Editor-in-Chief

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