Discover moves CEO, CFO to new positions

Discover Media, publisher of Discover magazine, has shuffled its executive team.

CEO Bob Guccione, Jr. will take on the position of chairman and Henry Donahue, CFO of Discover, will take Guccione's place as CEO.

Guccione's responsibilities as chairman will revolve around the extension of the Discover brand through new business initiatives. Donahue, who has been with Discover for more than two years, will focus on day-to-day business operations in his new position, including growth of the flagship magazine and its Web site.

As CEO, Guccione spearheaded Discover's move to purchase itself from the Walt Disney Company in 2005. This purchase provided the impetus for a turnaround at Discover magazine, which boasted a nearly-20% increase in ad pages for the first half of this year. Discover's success this year has pushed the company to consider a re-launch of a second magazine: sci-fi title Omni.

As chairman, Guccione will continue to explore the launch of Discover-branded products, including television programming and international editions.