It's time to say good-bye. After more than 20 years as editor-in- chief of BusinessWeek, this is my final issue. I leave to become founding dean of a new graduate school of journalism at the City University of New York -- a wonderful opportunity to build a publicly funded graduate school from the ground up.
It has been a great ride. I've had a front-row seat at some of the major events in business. When I was named editor-in-chief in August, 1984, the Dow Jones industrial average was around 1,200. Today it is well above 10,000. The personal computer was a novelty, the Chinese wore Mao suits, and few people knew much about Bill Gates or Alan Greenspan.
It's tough to leave. I will miss the terrific stories, the weekly rhythm, the wonderful people at BusinessWeek, and my many friends throughout The McGraw-Hill Companies (MHP ). Editing this issue -- my 1,044th -- has been as much fun as my first. It's still a thrill -- and a privilege.
BusinessWeek has had only eight editors in its 75 years. My successor, Stephen J. Adler, is the ninth. Most recently Steve was a deputy managing editor of The Wall Street Journal and editorial director of its online edition. Steve will take over next week. But the transition has been under way for two months. Steve has the skills and talent to be a great editor-in-chief, building on a grand tradition for a new era. As you will see when you open your magazine in the weeks and months ahead, you are in good hands.
My thanks, dear readers, for your support for so many years.
By Stephen B. Shepard, Editor-in-Chief