Meredith names new CEO as part of its succession plan

Magazine and broadcasting company Meredith is shuffling its top executives into new roles as it works to integrate its Time Inc.'s portfolio of magazines.

The Des Moines, Iowa-based company said Monday that current CEO Steve Lacy will become Meredith's executive chairman. The company's president and chief operating officer, Tom Harty, will become chief executive.

Lacy says these changes are part of the succession plan that was established several years ago. Lacy says he's looking forward to his new role as executive chairman.

Harty will oversee Meredith's publications and the integration of the company's new magazines acquired as part of the Time deal that was announced last fall.