December 8, 2008

Playboy CEO to resign

Chief Executive Officer of Playboy Enterprises Inc. Christie Hefner said she planned to resign her position at the end of January to pursue other interests.

Hefner, daughter of company founder Hugh Hefner, said she would not seek another CEO position, but look for involvement in public service and non-profit interests, the Chicago Tribune reported Monday.

I really don't plan to look for a CEO job. Been there, done that, Hefner said.

Hefner guided the company while advertising and circulation fell during the economic downturn. Its adult television and film enterprises have lost market share to free adult content on the Internet. Recently, its licensing division has out-performed its other divisions, the Tribune said.

Hefner said the board did not ask her to resign.

While I will miss her leadership here, I believe that she will go on to achieve even greater personal success, father Hugh Hefner said.

The company said Director Jerome Kern would serve as an interim non-executive chairman while it sought Hefner's replacement.