Bloomberg LP’s Norm Pearlstine sent a memo Thursday to BusinessWeek‘s staff noting that the magazine’s two executive editors and its managing editor would remain with the publication after it is sold to Bloomberg at the end of the month.
Ellen Pollock and John Byrne are the executive editors, while Ciro Scotti is the managing editor. Editor in chief Steve Adler already announced he’s leaving.
Roger Neal, the senior vice president and general manager of BusinessWeek.com, is leaving, according to the memo.
The memo reads:
“We are pleased to bring you a report on progress as we work toward the December 1 integration.
“Foremost on our minds are issues involving people, and we are striving to make this process as transparent and expeditious as possible. Bloomberg expects to retain a majority of BusinessWeek’s employees. Each business area will follow a somewhat different selection approach, except in Europe and certain countries where local requirements govern the process. Look for a communication shortly for details in your area. Our goal is to provide clarity around post-integration roles by November 20.
“In terms of the leadership organization, we are pleased to announce that Jessica Sibley, Carl Fischer and Tania Secor will join Bloomberg. Jessica will serve as Publisher of BusinessWeek, overseeing print and digital ad sales. Carl will be head of Marketing and Communications, and Tania will have an expanded finance role with Bloomberg News that will include Bloomberg Markets and BusinessWeek. We will make additional announcements about leadership in the near future.
“We continue with the selection process for a new Editor-in-Chief and are pleased that Ellen Pollock, John Byrne and Ciro Scotti will continue in their editorial leadership roles.
“Roger Neal has informed us of his decision not to join the integrated company. We are grateful for the tremendous foundation that he has built for the digital properties. Roger’s Digital team will report to Bloomberg’s Kevin Krim.
“Looking at facilities, we expect to move all BusinessWeek offices and bureaus globally (except New York and Austin, Texas) to existing Bloomberg offices on December 4. Employees based in New York will continue to work at 1221 Avenue of the Americas until space is available at Bloomberg’s 731 Lexington Avenue building. Details will be provided by office as they become available.
“In the U.S., BusinessWeek staff members who join Bloomberg will receive a paper paycheck on December 15 to provide income continuity, particularly during the holidays. Since this will be a special, out-of-cycle payment, we cannot accommodate direct deposit. FICA deductions will restart with the move to Bloomberg’s payroll. Going forward, most new employees will be paid on a monthly basis. The balance of December pay will be made on January 4, 2010.
“Additionally, BusinessWeek staff members in the U.S. will remain on the McGraw-Hill medical, dental and vision plans through year-end but, in keeping with Bloomberg’s benefit plan, will not pay a premium. In December, we will conduct an open enrollment for new employees to enroll in Bloomberg’s health and insurance plans for 2010.
“Answers to a range of additional questions about expenses, mobile devices, flexible spending accounts, supplies, technology and other issues, are forthcoming.
“We look forward to meeting many of you at information sessions over the next few weeks.”
