New York Times CFO James Follo to retire in early 2018

The New York Times` Chief Financial Officer James Follo will retire early next year, the company said on Wednesday, ending a more than 10-year stint at the newspaper publisher.

The Times said it was considering candidates from both inside and outside the company to succeed Follo, who is also executive vice president.

Follo`s tenure at the Times represented a crucial transition period for the company, which has been trying to transform itself into a digital media powerhouse to offset falling sales in its traditional print business.

The Times has been posting better-than-expected financial results in recent quarters, spurred by higher digital subscriptions.

Follo took over as the Times` finance chief in January 2007 after serving in a similar capacity at Martha Stewart Living Omnimedia Inc.

The Times will retain an executive search firm to help find Follo`s successor, it said.

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