• by Sara Guaglione , July 18, 2016

Forbes Media has promoted COO Mike Federle to president of the company, taking over the role from Forbes CEO Mike Perlis.  

Perlis will keep his CEO title, as well as assume the additional role of executive chairman.

“These changes at the top of our management team will allow us to maximize our time and attention to continue to grow our media business as well as create new global expansion opportunities for the company,” stated Perlis.

Perlis added that he will focus his energy on “developing new global Forbes-branded business initiatives” for both short and long term growth. According to a statement, Perlis is also currently overseeing strategic planning for expansion in Asia in particular.

Federle has served as the Forbes’ COO since 2011. He will report to Perlis in his new position, and will be responsible for running Forbes’ existing media business, as well as its intersection with any new businesses that the company launches.

Additionally, Federle will oversee Forbes’ content creation, editorial, product development, sales, marketing and corporate functions.

Federle previously served as publisher of Fortune magazine and group publisher of the Time Inc. Business and Finance Network, which included media properties like Fortune, Money, Business2.0 and CNNMoney.com.  Prior to joining Forbes, Federle co-founded Techonomy Media Inc and served as president and COO.