Baba Shetty, the Newsweek Daily Beast Co. CEO, is leaving the company ahead of Newsweek's planned sale, Tina Brown announced today in a company-wide memo. Shetty, who was the chief of strategy and media at ad agency Hill Holliday when he joined Newsweek in late 2012 and oversaw Newsweek’s recent transition to a digital-only magazine, is planning to take the summer off “to spend some time with his family,” Brown wrote. “We wish Baba great success in his future ventures,” she added.
NewsBeast international publisher Rhona Murphy will return to New York as interim CEO.
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