Baba Shetty is stepping down as CEO of Newsweek/The Daily Beast after just nine months in the position, editor in chief Tina Brown wrote in a memo that went out to staff this evening. Mr. Shetty will take the summer off to “spend time with his family.”
Newsweek‘s international publisher Rhona Murphy will return to New York as interim CEO.
Mr. Shetty, who came over from advertising agency Hill Holiday, succeeded Stephen Colvin as CEO back in September. But unlike Mr. Colvin (and in an unusual chain of command), Mr. Shetty reported directly to Ms. Brown. Read More