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Top editor at Time is stepping down

Time Inc., the world's largest magazine publisher, said Norman Pearlstine will resign as editor in chief after 11 years on the job.

His number two person, John Huey Jr., will take over.

Huey, 57, has been Time Inc.'s editorial director for the past four years, New York-based Time Inc. said yesterday in a statement.

He will become the sixth editor in chief in the history of Time Inc., a unit of Time Warner Inc. Pearlstine will step down Dec. 31.

''A lot of things will stay the same because we have been working together for such a long time," Huey said.

Under Pearlstine, Time Inc.'s revenue from Time's 155 magazines jumped 76 percent to an estimated $5.98 billion this year.

Pearlstine was criticized in June by other publishers, including New York Times Co. chairman Arthur O. Sulzberger Jr., for handing over documents from Time magazine reporter Matthew Cooper to a prosecutor investigating the leak of a CIA agent's name.

Pearlstine will serve as a senior adviser to the company and work on a book titled ''Off the Record: The Use and Misuse of Anonymous Sources.".

The 63-year-old executive had held the editor in chief position, first occupied by Time Inc. co-founder Henry Luce, since January 1995.

Huey, a 17-year veteran at Time Inc., was Fortune's managing editor for six years before being named the magazine division's editorial director in 2001.

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