New York, NY — John Huey was named Editorial Director of Time Inc. today by Editor-in-Chief Norman Pearlstine. Huey, who has been Editor of FORTUNE, succeeds Walter Isaacson, who was appointed yesterday as Chairman and CEO of the CNN Newsgroup. Huey's appointment is effective immediately.

In naming Huey as Editorial Director, Pearlstine also announced that he was redefining both the job and the management structure. "While the traditional title remains that of the second highest editorial executive in the company, and while I continue to have ultimate responsibility for the words and pictures in our magazines, John will become editorial director in both name and in fact for all our titles," Pearlstine said. "In this expanded role, the managing editors of all the New York weeklies, including Time, Sports Illustrated, People, and Entertainment Weekly will report to John. In addition, he will continue to have direct responsibility for the five domestic business titles already reporting to him — FORTUNE, Money, Business 2.0, FSB, and Mutual Funds."

Pearlstine added that Huey will work closely with him and Corporate Editor Isolde Motley in guiding the Time Inc. lifestyle books — In Style, Real Simple, Teen People, Sports Illustrated for Women, and People en Español.

Huey, 53, is a native of Atlanta and graduated from the University of Georgia. He served in the U.S. Navy as an intelligence officer before beginning his journalistic career at a weekly newspaper, the DeKalb New Era. From there he moved to the Atlanta Constitution, then to the Dallas bureau of The Wall Street Journal, returning to Atlanta as the Journal's southeastern bureau chief in 1980. In 1982 he helped launch, with Pearlstine, the Wall Street Journal's European edition in Brussels. He joined FORTUNE in 1988 and was named managing editor in 1995 by Pearlstine, who had joined Time Inc. earlier that year.

In 1997 Huey was named Advertising Age's Editor of the Year, and was also named Business Journalist of the Year by TJFR, a respected newsletter covering business journalism. In 1998 he was named Adweek's Editor of the Year, and under his leadership FORTUNE was named to Advertising Age's list of the best magazines in both 1999 and 2001. Also in 2001, FORTUNE was ranked No. 1 on Adweek's "Hot List" of the industry's Top 10 Magazines. Huey was also named in 2000 as one of Columbia Journalism Review's Top 10 magazine editors. In February 2001, Huey was named Editor of The FORTUNE Group of magazines at Time Inc., including FORTUNE, Money, e Company Now (Business 2.0), Mutual Funds and FSB: FORTUNE Small Business.

Pearlstine added that he is "pleased and proud" to announce Huey's appointment. "I regard his work while FORTUNE's managing editor from 1995 to 2001 as definitive," Pearlstine said. "It was the great magazine turnaround of the 1990s."

Time Inc., Pearlstine noted, "has always stood for journalistic excellence and has always been blessed with an abundance of editorial talent. We should consider Walter Isaacson's appointment as Chairman and CEO of the CNN News Group, as high tribute to the kind of leadership our culture produces. It is equally impressive that we are able to move on after the departure of Walter with an executive team that positions us to assure continued editorial excellence while adjusting to the profound challenges facing our company and industry today."

Time Inc., the world's leading magazine publisher, is a wholly owned subsidiary of AOL Time Warner Inc., the world's first Internet-powered media and communications company.

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