Forbes names Phillips its new CEO

Forbes Media has named Sherry Phillips, who has been with the company for 28 years, as its new chief executive officer.

She replaces Mike Federle, who is stepping down at the end of the year and has been CEO for the past seven years.

Phillips was appointed chief revenue officer in 2022, overseeing all aspects of Forbes’ revenue-driving business, including digital media, branded content, events and marketing. Previously, Phillips served as chief sales and marketing officer. Phillips joined Forbes in 1996 as publisher of ForbesLife.

With this promotion, Phillips becomes the first female CEO in Forbes’ 107-year history.

“Sherry is a smart and inspirational executive, who has built her career leading global revenue teams, developing meaningful partnerships, and creating and launching new growth initiatives,” said Federle in a statement. “She has been a valued and trusted partner and is the ideal strategic leader to continue to innovate the business and grow the powerful Forbes brand around the world.”

In 2024, Forbes recorded one of its best performing years ever in terms of audience growth, with a 50% increase in site traffic year over year.

Under Phillips leadership, Forbes’ Live events revenue increased 40% over the past two years, and Forbes’ sales team delivered outstanding results, including more than 20 seven-figure advertising partnerships this year.

Federle joined Forbes in 2011 as chief operating officer and was named CEO in 2017.

The company faces a tense relationship with its editorial staff, who unionized three years ago but still do not have a collective bargaining agreement.