Time Warner (TWX) Fires Time Inc. CEO After 6 Months with Company

Only six months after being hired as Chairman and CEO of Time Inc., Jack Griffin has been fired by parent Time Warner (NYSE:TWX).

Time Warner CEO Jeff Bewkes wrote this in a memo to employees, "Although Jack is an extremely accomplished executive, I concluded that his leadership style and approach did not mesh with Time Inc. and Time Warner."

Time Inc. is the unit of Time Warner which oversees top American magazines like Sports Illustrated, Time, and People.

Bewkes said until he hires a successor to Griffin the unit will be guided by Howard Averill, Time Inc.'s CFO, Maurice Edelson, Time Inc.'s general counsel and editor-in-chief John Huey.

Time Warner Inc closed Thursday at $37.68, gaining $0.38, or 1.02 percent.