Forbes Media has promoted its chief operational officer Mike Federle to president in a bid to help drive the company’s focus on creating new global expansion opportunities.
In his new role, Federle will be responsible for running the publisher’s existing media business as well as its intersection with any new businesses that the company launches.
Federle will oversee the content creation, editorial, product development, sales, marketing and corporate functions and will report to Forbes Media’s chief executive and and executive chairman Mike Perlis.
Perlis said the changes at the top of the management team will “allow us to maximize our time and attention to continue to grow our media business as well as create new global expansion opportunities for the company”.
He added: “Mike Federle’s deep experience in media and related businesses, and his almost five years at Forbes, fully prepare him for this crucial role. I look forward to working with him and the team in the years to come, as I focus my energy on developing new global Forbes-branded business initiatives to further our strong growth trajectory in the near and long term.”
Federle, who has served as the chief operating officer at Forbes Media since 2011, said: “It’s been great to be part of a winning team here at Forbes, and I’m honored to be given the opportunity to lead such an innovative and dedicated group through an ever-changing and thus challenging media environment.”
Federle previously served as publisher of Fortune magazine and group publisher of the Time Inn's Business and Finance Network that included media properties such as Fortune, Money, Business2.0 and CNNMoney.com. Prior to joining Forbes he co-founded Techonomy Media Inc, and served as president and chief operational officer.