Thursday, May 30

Alan Murray to Step Down as CEO of Fortune

Alan Murray, the chief executive of Fortune, announced on Wednesday that he would step down next year.

In a note to staff members, Mr. Murray said he had agreed with Fortune’s owner and board that he would help the company with a transition to new leadership and then leave his role at the end of April.

He said that during his tenure, Fortune had been established as an independent company, expanded its audience and revenue, and “produced three straight years of profits.”

“That turnaround story is the foundation for the next stage of Fortune’s growth,” Mr. Murray wrote, “during which the owner has made clear he plans to continue to invest in quality journalism, innovate in new product areas and expand internationally.”

Mr. Murray, 68, joined Fortune as the top editor in 2014. The magazine, part of Time Inc.’s publishing empire, was sold to Meredith in 2017 in a bundle of titles. In 2018, Fortune was bought from Meredith for $150 million by Chatchaval Jiaravanon, a Thai entrepreneur, and set up as a stand-alone company. Mr. Murray became Fortune’s chief executive after the sale.

Before he joined Fortune, Mr. Murray was the president of the Pew Research Foundation and worked at The Wall Street Journal for nearly 20 years. He said in his note on Wednesday that he had no plans to retire after he stepped down and that Mr. Jiaravanon had asked him to consider staying on in a different role.

“It has always been my goal to see that Fortune makes it to its 100th birthday with a clear path to a second hundred years,” Mr. Murray said.

A Fortune spokesman declined to comment further on the chief executive search.

Alyson Shontell, Fortune’s editor in chief, said in an email to the newsroom on Wednesday that Mr. Murray would be missed.

“While our next C.E.O. is yet to be determined given this decision was just made,” she wrote, “it will be an opportunity for us to find someone who both supports our important journalistic mission and has a strong growth mind-set to build upon Alan’s work.”