Kent Brownridge is stepping aside as CEO of Alpha Media Group, the owner of Blender and Maxim magazines. He’ll remain as chairman and will be succeeded by Stephen Duggan and Glenn Rosenbloom, who will serve as co-CEOs. Brownridge was tapped to head the company after helping engineer the sale of Dennis Publishing’s U.S. arm, which housed Blender and Maxim, to private equity firm Quadrangle Group in June 2007. In the e-mailed release, Brownridge, the former No. 2 to Jann Wenner at Wenner Media, said that he joined AMG with the intention of building the team that would eventually run it long term.

SEE ALSO: Dennis Publishing Sold To Quadrangle Group; Will Hold Onto Week and Maxim UK

Before this promotion, Duggan was AMG’s CFO. Brownridge hired him from Publishing Group of America, where he held the same title. Rosenbloom, another Brownridge hire, was most recently president. Before that, he was SVP/Group Publishing Director for the U.S. consumer magazine division of Disney Publishing.

—AdAge: The state of the magazine industry has changed considerably since Brownridge emerged from retirement to run AMG. Since January, ad pages have slipped 7.4 percent overall, according to stats compiled by Media Industry News. Within that downturn, Maxim’s ad pages have fallen 5.5 percent while Blender has experienced a 22.4 percent drop. AMG has also been plagued by high level exits, including the departure of John Lagana as CFO in September. He was followed out the door in March by CMO Joe Mangione after six months with AMG. And in April, Douglas Warshaw left after five months as chief digital officer at Maxim Digital.