Newsweek and The Daily Beast editor-in-chief Tina Brown announced Wednesday afternoon that Baba Shetty, who became CEO of The Newsweek Daily Beast Company just nine months ago, is leaving the company.
In an internal memo circulated to staff, Brown wrote that Shetty is "taking the summer off to spend some time with his family" — though we suspect the departure has little to do with Shetty's family and everything to do with Newsweek's pending sale (pending because Newsweek hasn't yet secured a buyer).
"[Shetty] has presided over a terrific nine months of product development and digital growth here, during which time he has brought in and cultivated a dynamic digital team, led by Mike Dyer," Brown wrote in the memo. "We wish Baba great success in his future ventures." Read more...
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