BusinessWeek said that its president, William Kupper is retiring as soon as a replacement is found, according to an Associated Press story.
Kupper, 61, will assist in the process to select a new president, which has already begun. He will remain president in the interim.
After joining the magazine in 1995 as head of U.S. advertising sales, Kupper worked his way up to head of global advertising sales before becoming president in 2000.
BusinessWeek’s parent is McGraw-Hill Cos. Shares rose 44 cents to $57.22 in afternoon trading on the New York Stock Exchange.
BusinessWeek has seen a drop in advertising revenue so far this year.
