No Longer Seen On CNN

ANDY SERWER NAMED MANAGING EDITOR OF FORTUNE

(New York, October 31, 2006) - Andy Serwer has been named Managing Editor of Fortune it was announced today by John Huey, Editor-in-Chief of Time Inc. Serwer succeeds Eric Pooley, who will now be working with John Huey and Time Inc. Managing Editor Jim Kelly on investigative projects. The appointment is effective immediately.

Serwer (47) will oversee the leading biweekly business magazine, which is known for its unrivaled access to industry leaders and decision makers throughout the world.

No matter what project Andy takes on, he handles it with intelligence, wit and energy,” Huey said. “It is also safe to say that no journalist knows today’s business story better than Andy Serwer. I am confident that he will bring his knowledge of both the story and the multimedia landscape to the helm of Fortune in exciting ways that will work to its great advantage in the future.”

''I really am thrilled to be running a magazine with such a rich history and such a bright future,” Serwer said. “I look forward to working with my longstanding colleagues – the best business journalists on the planet. We're going to have a blast.”

As editor-at-large at Fortune since 1998, Serwer writes the “Street Life” column as well as stories about the personalities and behind-the-scenes action on Wall Street. His work has ranged from his provocative column in every issue to major cover stories on everything from the young Michael Dell to Michael Price (“The Toughest S.O.B. on Wall Street”) to the business of the Rolling Stones to the first look inside the financial and philanthropic workings of America’s richest family, the Waltons.

In addition to his magazine work, Andy became one of the industry’s first internet stars nine years ago with his daily market round-up on Fortune.com, also called "Street Life," that has more than 50,000 e-mail subscribers. He has also been the very successful business anchor of CNN’s American Morning news show. He will continue to have an on-air presence on CNN.

Serwer joined Fortune in 1985 as an intern from the Columbia Journalism School, and was later promoted to associate editor. He quickly went on to become one of its most insightful, popular and productive writers. In addition to covering Wall Street, investing, information technology, and entertainment for the magazine, Serwer has also edited and written the front of the book section of Fortune, which includes breaking news and features focusing on business personalities, media, and technology.

The May 22, 2000 issue of the New Yorker summed up Serwer's contributions to Wall Street coverage like this: "Achaea had Homer, the Spanish Civil War had Hemingway, California had the Beach Boys, and now our hyperactive stock market has its own poet singer-Andy Serwer." In 1999, Serwer was named 2000 Business Journalist of the Year by TJFR Business News Reporter, which called him "perhaps the nation's top multimedia talent, successfully juggling the roles of serious journalist, astute commentator and occasional court jester. He's a prototype and inspires others in business journalism to test their skills in other media." Marketing Computers also ranked him sixth on its "Top Ten Web" list of Internet journalists that year.

Mr. Serwer received a bachelor's degree in history from Bowdoin College in Brunswick, Maine, graduating with departmental honors in 1981. He received an MBA from Emory University in Atlanta and a master's in journalism from Columbia University.