It’s only fitting that Forbes magazine should be run by members of the Forbes family, namely CEO Steve Forbes and his brother, COO Tim Forbes. But with the younger Forbes moving away from day-to-day operations, according to Fortune, some fresh blood might be coming to the book.
It’s notable that the company is looking for new blood of the non-Forbes variety. That’s a tremendous change for Forbes, which has had little genetic variation in its management since B.C. Forbes founded the magazine in 1917. In 1954, B.C.’s son Malcolm took over. When he died, Steve gained control and has been the face of the company until now.
Sources speculate that a new COO would be responsible for making the magazine profitable again.