On Thursday afternoon, Hearst Magazines CEO Steven R. Swartz announced that Troy Young would not be continuing in his role as the publishing giant's president.
"Troy Young and I have agreed that it is in the best interest of all of us that he resign his position as president of Hearst Magazines, effective immediately," he wrote in a memo that was also published to the Hearst website.
The news swiftly follows the publishing of a New York Times report Wednesday about Young's behavior and the "toxic" work environment employees said he created. Difficult-to-forget anecdotes from the article include comments to Cosmopolitan staffers expressing his interest in sex toys and emailing pornography to a colleague, among other lewd actions.
In the article, Young denied the allegations, stating: "Specific allegations raised by my detractors are either untrue, greatly exaggerated or taken out of context. The pace of evolving our business and the strength of my commitment is ambitious, and I sincerely regret the toll it has taken on some in our organization."
Though in a memo to staff, cited by the Times, he reportedly did apologize:
"I recognize that the incidents cited in the NYT article are particularly offensive to women and I want to make clear they do not represent who I am as a person nor do they reflect some of the most important relationships in my life," he wrote. "To my female colleagues, many of whom are my closest collaborators, trusted advisors and day-to-day partners: I am sorry and I am committed to the work I need to do here."
According to WWD, Hearst was aware of the Times story and Young's departure was already being discussed last week, with sources also telling the publication that his contract would be up in August.
Troy joined Hearst in 2013, initially overseeing the digital side of its titles. He was promoted to president in 2018. He's largely credited with leading the company's transition into a digital world, alongside current Chief Content Officer Kate Lewis.