Christie Hefner is stepping down as CEO of Playboy after 20 years at the helm of her father Hugh’s operation, she tells the Chicago Tribune. The company’s stock is down, and it has shuttered key divisions, but Hefner, 56, said her resignation was a personal choice. She intends to stay on through January, and then pursue non-profit and public-service jobs.
“It is indiscriminate, across-the-board market selling in this environment,” Hefner said of Playboy’s poor showing this year. “We are among scores of companies that have stock at a record low. I’m going to remain a major shareholder. I have a lot of confidence that as the economy gets better, certainly Playboy is well positioned.”