For the first time since the publication company started in 1917, Forbes Media has hired a CEO from outside of the family tree. Mike Perlis joins as CEO and President of Forbes Media from his position as general partner of SoftBank Capital.
Steve Forbes had been CEO of the company up until now and his brother Tim was the COO. Steve had attempted to run for U.S. president in 1996 and 2000 in the Republican primary. Steve will remain as chairman and editor-in-chief of Forbes Media.
Forbes Magazine had launched in 1917 by B.C. Forbes. Forbes Magazine has about 900,000 magazine subscribers and their website gets about 18 million unique monthly visitors.
“The whole move here is to bring outside energy in to complement all the great things they did with the platform and build value,” stated Perlis in an interview with Reuters.