In the latest shake-up at Time Inc., Jeff Bairstow is out as chief financial officer.
He had been a long-time ally of ex-CEO Joe Ripp, who resigned last month, citing health concerns tied to a heart problem.
Ripp was replaced by Rich Battista, an executive vice president who joined more than 16 months ago to run People, Entertainment Weekly and Sports Illustrated.
Battista is being pushed to amp up the company’s digital efforts even as an activist investor, Jana Partners, is urging that it explore consolidation with another media company.
Bairstow, who joined Time Inc. in 2013, is being replaced by an insider, Senior Vice President and Corporate Controller Sue D’Emic.
In other changes, Erik Moreno, currently executive vice president of business development, was promoted to president, corporate development, and will oversee Time Inc.’s international and merger and acquisitions and strategic planning.
Also, Greg Giangrande, the chief human resources officer who negotiated the recent contract with the News Guild that will allow it to outsource 50 full-time jobs for the first time ever, takes over corporate communications.
Jaison Blair, who is senior vice president of investor relations, gives up the corporate communications role but adds jurisdiction over Time Inc. India, where Time has exported an estimated 500 back-shop jobs in recent years. It does not publish any magazines in India.
Time Inc. stock has been slumping as the decline in its traditional print revenues forced Ripp to make an embarrassing retreat from earlier revenue growth predictions of nearly 5 percent. It is now predicting smaller revenue growth of 1.5 percent.