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Time Warner taps Howard Averill as CFO; Joseph Ripp to head Time Inc.

Time Warner has tapped Howard Averill to be its chief financial officer after John Martin transitions from that role to chief executive of Turner Broadcasting next year.

Averill is chief financial officer of Time Inc., the publishing unit that houses Time, Sports Illustrated and several other magazines that Time Warner is spinning off into a stand-alone public company later this year.

Time Warner also said Joseph Ripp, a former chief financial officer of Time Inc., is returning to be its chief executive. Ripp spent close to 20 years at Time Inc. He is CEO of OneSource Information Services and will rejoin Time Inc. in September.

ALSO:

Turner Broadcasting gets a Time Warner makeover

Turner shakeup could lead to bruised egos and more shifts

Commentator Keith Olbermann returning to ESPN2 to host late night show

Follow Joe Flint on Twitter @JBFlint.

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