A day after Time Inc. announced the sale of 18 of its magazines to Bonnier for a reported $225 million, Nora McAniff, its long-time executive, is stepping down as co-chief operating officer.

Time Inc. promoted IPC CEO Sylvia Auton and In Style, Real Simple, Essence and Parenting prez Stephanie George to executive VPs with, uh, expanded roles:

Auton will continue her role as Chief Executive Officer of IPC Media, and will also assume responsibility for Southern Progress Corporation and the business sides of All You and Life. She will divide her time between New York, London and Birmingham, Alabama as necessary. George will continue her role as President, In Style, Real Simple and Essence, and will add responsibility for Corporate Sales and Marketing and the business sides of the People Group and Entertainment Weekly. She will also continue to oversee Time Inc.'s partnership with the American Express titles. Auton and George will both report to Moore.

The full release:

SYLVIA AUTON AND STEPHANIE GEORGE NAMED EXECUTIVE VICE PRESIDENTS OF TIME INC.

(New York, January 26, 2007) – Today Time Inc. Chairman and CEO Ann Moore announced the promotions of Sylvia Auton and Stephanie George to Executive Vice Presidents. Nora McAniff will step down as Co-Chief Operating Officer. These changes will take effect March 1, 2007.

"I want to thank Nora for her 25-year commitment to Time Inc," said Moore. "She is the consummate publishing executive, and brought a unique and strategic leadership to our businesses. We wish her the best in the next phase of her life."

"When I realized I was about to reach my 25th anniversary with Time Inc., I decided it might be time for a brief intermission between acts," said McAniff. "I am proud of the magazines I've helped run and will miss the many smart, talented people I've had the opportunity to work with."

Moore continues, "Sylvia and Stephanie are seasoned executives who have done a great job running their businesses. I look forward to them assuming more active roles as part of our senior management."

Auton will continue her role as Chief Executive Officer of IPC Media, and will also assume responsibility for Southern Progress Corporation and the business sides of All You and Life . She will divide her time between New York, London and Birmingham, Alabama as necessary. George will continue her role as President, In Style, Real Simple and Essence, and will add responsibility for Corporate Sales and Marketing and the business sides of the People Group and Entertainment Weekly. She will also continue to oversee Time Inc.'s partnership with the American Express titles. Auton and George will both report to Moore.