Forbes Reorganizes to Support Growth, Promotes Jessica Sibley to Chief Operating Officer

Rhea-AI Summary

Forbes announced a major reorganization to enhance growth and prepare for a public listing by the end of Q1 2022. Key leadership changes include Jessica Sibley being promoted to Chief Operating Officer, overseeing a newly formed Revenue Operations team. Sherry Phillips becomes Chief Sales and Marketing Officer, and Taha Ahmed is now SVP of Corporate Development. Forbes continues hiring across multiple departments, signaling robust growth.

Forbes plans to go public via a merger with Magnum Opus (NYSE: OPA), expected to finalize in Q1 2022.

Positive

• Forbes positions itself for a public listing by consolidating teams and leadership roles.
• Jessica Sibley promoted to COO, expected to drive revenue growth initiatives.
• Continued hiring during the pandemic without layoffs indicates a strong operational base.
• Public listing via Magnum Opus (NYSE: OPA) could enhance market visibility and access capital.

Negative

• None.

Company Recruiting for New Positions Across the Organization

NEW YORK--(BUSINESS WIRE)-- Forbes announced today a reorganization intended to create stronger alignment across the company in order to support growth as it prepares for a public listing currently scheduled to be completed by the end of the first quarter. The company’s Growth and Revenue teams are now consolidated into a unified Revenue Operations team led by Jessica Sibley who has been promoted to Chief Operating Officer, reporting to Forbes CEO Mike Federle.

Longtime Forbes executive Sherry Phillips will now oversee the revenue and marketing teams as Chief Sales and Marketing Officer, reporting to Ms. Sibley. Previously, she was CMO. Taha Ahmed, who is promoted to SVP, Corporate Development, Strategy & Consumer Growth, will oversee an expanded Consumer Growth team responsible for Forbes’ rapidly growing direct-to-consumer business, also reporting to Ms. Sibley.

“With our public listing on track for this quarter, this is an incredibly exciting time to be at Forbes as we enter a new chapter designed for continued growth,” said Mike Federle, Forbes CEO. “I can’t think of anyone more capable of leading our Revenue and Growth initiatives than our newly promoted COO Jessica Sibley, an incredible leader and team builder who has led the sales organization to three consecutive years of record results.”

Ms. Sibley has been Forbes Chief Revenue Officer for the past two years, and prior to her role as CRO, has held successive sales leadership roles including SVP, U.S. & Europe, and Chief Sales Officer over the course of six years. She has introduced several innovative products and initiatives, including BrandVoice products, ForbesLive virtual events, Forbes’ Representation & Inclusion Practice, ForbesOne, Forbes Demand Engine, and the CxO Growth Survey. Earlier, Ms. Sibley held leadership positions at Bloomberg, The Wall Street Journal, and Conde Nast.

“The new structure we’re announcing today will enable the pace of growth and scale necessary to achieve our goals,” said Jessica Sibley, Chief Operating Officer, Forbes. “We have amazing talent in our new Revenue Operations team, and I’m excited to support them as we continue to build our powerful media business, and continue to diversify our revenue mix with recurring income from our brand extensions business and direct-to-consumer revenue which has shown dramatic growth this year.”

The new Revenue Operations team includes Consumer Growth, Content & Design Studio, ForbesWomen, Sales & Marketing, Product, Technology, Asia, and Europe. These changes are effective immediately.

The company, which has continued to hire through the pandemic—avoiding layoffs and furloughs—is actively recruiting for nearly three dozen positions on its Revenue, Growth, Product, Technology, Corporate and Editorial Teams. Read more at Forbes Careers.

About Forbes

Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business, and making a significant impact on the world. The Forbes brand today reaches more than 150 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 44 licensed local editions in 77 countries. Forbes Media’s brand extensions include real estate, education, and financial services license agreements.

Forbes recently announced plans to go public through a business combination with Magnum Opus (NYSE: OPA), a special purpose acquisition company (SPAC), which is expected to close in Q1 of 2022.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220131005470/en/

Press:

Bill Hankes: bhankes@forbes.com

Investor:

Ashley DeSimone: ashley.desimone@icrinc.com

Source: Forbes

FAQ

What is Forbes' plan for a public listing?

Forbes plans to go public through a merger with Magnum Opus (NYSE: OPA), expected to close by the end of Q1 2022.

Who is the new COO of Forbes?

Jessica Sibley has been promoted to Chief Operating Officer (COO) of Forbes.

What changes were announced in Forbes' leadership structure?

Forbes announced a reorganization that includes a new Revenue Operations team and promotions for key executives.

Is Forbes hiring new employees?

Yes, Forbes is actively recruiting for nearly three dozen positions across various teams.