We mentioned earlier that in announcing Adi Ignatius' departure from Time managing editor Rick Stengel had failed to say what the "other challenges" Ignatius was moving on to were exactly. Now we have the answer.

The Harvard Business Review has told us that Ignatius has been named their new Editor-in-Chief beginning the week of January 19th. He will be reporting to Harvard Business Publishing CEO David Wan and serving on HBP's Executive Committee. Full release after the jump.

Harvard Business Review Names Adi Ignatius As Editor-in-Chief

BOSTON -- JANUARY 6, 2009 -- Adi Ignatius, the Deputy Managing Editor of TIME magazine, has been named Editor-in-Chief of Harvard Business Review (www.hbr.org). During his 12 years with TIME, Mr. Ignatius has covered business and international issues, served as Editor of TIME Asia, and most recently managed TIME's special editions, including the Person of the Year and TIME 100 franchises.

The announcement was made by David Wan, President and CEO of Harvard Business Publishing, which publishes Harvard Business Review.
Mr. Ignatius will be based in Boston at the magazine's Watertown, Massachusetts main offices.

Before becoming Deputy Managing Editor, Mr. Ignatius served as Executive Editor of TIME and was responsible for the magazine's business and international coverage. Ignatius joined TIME as Deputy Editor of TIME Asia in 1996, based in Hong Kong, and was named Editor of that edition in 2000. Under his leadership, TIME Asia became an award-winning showcase for reporting, writing, photography and design. Throughout his career with TIME, Mr. Ignatius continued to write for the magazine; his most recent articles included a look inside Google Inc., and 2007's Person of the Year profile of Russian leader Vladimir Putin.

Mr. Wan said: "Adi is a first-rate journalist and a highly accomplished magazine editor whose management experience and international perspective make him ideally qualified to lead Harvard Business Review. His energy and leadership will be especially valuable as the magazine seeks to evolve and grow to meet the needs of its global readers and fulfill its mission to improve the practice of management."

Founded in 1922, Harvard Business Review is considered required reading for business and organizational leaders around the world. It is well-known for launching some of the most transformational and influential ideas in management, including disruptive innovation, avatar-based marketing, competing on analytics, blue ocean strategy, the five forces of competitive strategy, and the emotional intelligence of leaders.

Mr. Ignatius said: "I look forward to working with Harvard Business Review's staff and authors to build on the magazine's great editorial legacy and to create content that's newly relevant and accessible to today's global business audience. The need and appetite for practical management ideas is only growing, and for Harvard Business Review that means a great opportunity to reach both the current and next generation of business leaders and influence management practice around the world."

The magazine's website, hbr.org, will launch a redesign in the coming weeks, with enhancements including more article summaries that give readers key takeaways quickly, easier access to the magazine's digital archives of some 2,800 articles, and recommendations by Harvard Business Review editors. Other online offerings include the HBR Interactive Case, podcasts, the HBR Editors' Blog, and videocasts.
The magazine is also set to launch a tiered subscription offering, including an online-only offering with full access to the HBR digital article archives and additional features.

Prior to joining TIME, Ignatius worked for many years at the Wall Street Journal, serving as the newspaper's Bureau Chief in Beijing where his work was nominated for a Pulitzer Prize, and later in Moscow. He later served as Managing Editor of the Central European Economic Review and Business Editor of the Far Eastern Economic Review, publications owned by Dow Jones, Inc.

Ignatius was awarded a Zuckerman Fellowship at Columbia University's School of International and Public Affairs in 1990 and speaks Russian and Chinese. He received his BA in History in 1981 from Haverford College in Pennsylvania. He is a member of the Council on Foreign Relations and the Asia Society and sits on the advisory board of the journalism school at SUNY Stony Brook.

In addition to the global edition of the print magazine, Harvard Business Review has 11 licensed editions, including editions in China, Taiwan, India, and Germany.