In his new role, Harty, 55, will continue to lead Meredith’s National and Local Media Groups, and direct the integration of the Time Inc. acquisition. He will add responsibility for Meredith’s finance and legal functions. Current CEO Steve Lacy will become executive chairman.
Meredith Corp.’s board of directors has elected Steve Lacy executive chairman and Tom Harty president and chief executive officer, effective Feb. 1. Lacy is currently chairman-CEO and Harty is president-COO.
In his new role, Lacy, 63, will work with Harty to determine Meredith’s strategic agenda; continue to represent Meredith to the investment and financial communities; lead all board activities; and play a greater role in media industry association activities, particularly legislative initiatives.
In his new role, Harty, 55, will continue to lead Meredith’s National and Local Media Groups, and direct the integration of the Time Inc. acquisition. He will add responsibility for Meredith’s finance and legal functions, which are led by CFO Joe Ceryanec and Chief Development Officer and General Counsel John Zieser, respectively.
“This is a pivotal time for Meredith Corp. and our board believes we have the right leadership team and a well-defined plan to successfully integrate the Time Inc. acquisition and increase shareholder value,” said Mell Meredith, vice chair of the Meredith board. “Steve and Tom have outstanding track records of achieving acquisition goals and growing total shareholder return over time — and together with the best employees in the media industry — I am extremely confident in their ability to deliver for all our stakeholders, including consumers, advertisers, investors and employees alike.”
“I’m excited to lead the best team in the media and marketing industry,” Harty said. “Here at Meredith, we are well-known for a collaborative culture that is highly effective in the marketplace. With our tremendous media portfolio — bolstered by the acquisition of the Time Inc. brands — we are extremely well-positioned to continue expanding our connection to consumers and helping advertisers who want to reach them.”