Posted by: Tom Lowry on November 5, 2009
Roger Neal, the general manager of BusinessWeek’s online operations, is the third top executive to resign from his post following the announced sale of the magazine to Bloomberg LP in mid-October.
BusinessWeek staffers learned of Neal’s departure through a memo sent out by Norman Pearlstine, Bloomberg’s chief content officer. “We are grateful for the tremendous foundation that he has built for the digital properties,” Pearlstine said. “Roger’s digital team will report to Bloomberg’s Kevin Krim.”
Earlier, BusinessWeek President Keith Fox and Editor-in-Chief Stephen J. Adler announced they would be leaving the magazine. Fox will remain at BusinessWeek’s parent, McGraw-Hill Cos.
Neal was recruited to BusinessWeek from eBay in 2006 where he served as director of strategic partnerships. During his tenure at BusinessWeek, traffic to the magazine’s website grew from 6.4 million average monthly unique visitors to more than 10 million. Among Neal’s other initiatives was to create the Business Exchange, a social networking site for the business community in which McGraw-Hill invested more than $20 million. While accounting for 16% of digital revenues so far in 2009, BX has yet to meet online traffic and revenue goals.
“I’m enormously proud of the great strides we’ve made growing Businessweek.com, launching Business Exchange, and finding a great home for the franchise at Bloomberg,” said Neal, who was directly involved in presentations during the sales processs. “There is enormous potential in the continuing evolution of digital media and I’m very excited to pursue new opportunities in this arena.”
In other personnel news, Pearlstine said BusinessWeek publisher Jessica Sibley would remain in her job following the transition to Bloomberg, as will Carl Fischer as head of marketing and communications. Tania Secor, BusinessWeek’s vice president of finance, will also be retained and fill a larger finance role with Bloomberg News, including at BusinessWeek and at Bloomberg Markets magazine.
Pearlstine said executive editors Ellen Pollock and John Byrne and managing editor Ciro Scotti would continue in their roles. He also reassured the staff that the majority of BusinessWeek employees would be hired by Bloomberg.
The search for a new editor-in-chief of BusinessWeek continues, said Pearlstine.