Forbes chief revenue officer Sherry Phillips has been appointed the business publisher’s next CEO.
Phillips will take up the Forbes CEO job on 1 January, succeeding Mike Federle who is stepping down after seven years but will continue to serve as a strategic advisor to the Forbes leadership team and board.
Phillips, who is becoming the first female CEO in Forbes history, has been chief revenue officer since 2022, overseeing all of the brand’s revenue-driving businesses including digital media, branded content, events and marketing.
She was previously chief sales and marketing officer and first joined the title in 1996 as publisher of lifestyle brand Forbes Life.
Phillips said: “It is an honour to lead the iconic Forbes brand as we step into 2025… At Forbes, we stand for success, and we support the success of our own. My nearly three decades with the company is a testament to that commitment. I am eager to work with my colleagues as we chart our path in this challenging and exciting new era for our company and for the media industry.”
Forbes said that under Phillips’ leadership the brand’s live events revenue has increased 40% over the past two years and its sales team secured more than 20 seven-figure advertising partnerships this year.
Forbes also said that Federle has led its digital transformation and helped the publisher diversify its revenue and expand into new categories like e-commerce and global real estate.
Forbes currently produces the tenth biggest news website in the US according to Similarweb, with 118.4 million visits in October – up 43% in a year. It was also the 15th biggest English-language news site in the world, with 181.5 million visits – up 41%. In the UK, Forbes is the 21st biggest news site according to Ipsos iris, with an audience of 7.9 million in October up 125% in a year.
Federle, who first joined Forbes in 2011 as chief operating officer, said: “It has been a privilege and an honour to lead Forbes during one of the most revolutionary periods in its 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. 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.”
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