Why?

According to an internal memo sent last night, Griffin “did not mesh” with Time Inc.

There’s no immediate successor, but “an experienced interim management committee” will handle Time Inc in the meantime, composed of Howard Averill, Maurice Edelson and John Huey.

However…..In August 2010, not so long ago, Bewkes called Griffin “an exceptional executive who knows how to expand the reach and relevance of strong publishing brands, and he will be a champion of our high-quality journalism. As CEO, Jack will further advance our lead position in the industry and accelerate the expansion and innovation of our titles on all platforms.”

What a difference half a year makes.

New Career Opportunities Daily: The best jobs in media.

The search for Bridges’ replacement is on, so if you know someone, better call up Jack before it’s too late.

New Career Opportunities Daily: The best jobs in media.

“We have no plans to divest any of the brands in our stable, either domestically or worldwide,” Griffin told the NYP’s Keith Kelly.

The company is even doing well enough to have its first Christmas party since 2007: expect cocktails, carolers, and a Sports Illustrated swimsuit model.

Why we said “for now”: Because whatever promises CEOs make, things can change. But at least for now, Time Inc. folks’ jobs are safe.

New Career Opportunities Daily: The best jobs in media.

Time Inc. hired Jack Griffin; Conde Nast promoted Robert A. Sauerberg. Meredith promoted Tom Harty, and Hearst hired David Carey.

This makes 2011 a year to watch, says the NYT’s Jeremy Peters.

In the mid-1990s, a similar revolution took place, but it was spread out over two years, Peters writes. But then, “the new cadre of executives at the time would steer their companies through periods of expansion and prosperity through the rest of the decade and beyond, an era when successful publications like O: The Oprah Magazine, Teen Vogue and Real Simple were born…Whether the rebound from the economic collapse of 2008 and 2009 will prove as robust is an unsettled — and, to many, an unsettling — question.”

One change coming up: higher cover prices. Both Time Inc.’s Griffin and Conde’s Sauerberg copped to the notion they were planning to up prices. We spent a tremendous amount of money creating original content, original journalism, fact-checking, sending reporters overseas to cover wars,” Griffin told Peters. “You name it. What we’ve got to do as a business is get fair value for that.”

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Griffin will start at the end of September, when current CEO Ann Moore, who has 32 years of service with Time Inc., will retire.

Griffin abruptly resigned from Meredith last week to “pursue another opportunity,” fueling speculation that something of this sort would happen.

Time Warner chairman and CEO Jeff Bewkes said in a statement that Griffin is “an exceptional executive who knows how to expand the reach and relevance of strong publishing brands, and he will be a champion of our high-quality journalism. As CEO, Jack will further advance our lead position in the industry and accelerate the expansion and innovation of our titles on all platforms.”

New Career Opportunities Daily: The best jobs in media.