Forbes are no longer CEOs of Forbes Media

Steve and Tim Forbes are leaving their executive positions at Forbes Media ceding the place to the media veteran Mike Perlis who was named president and chief executive officer of Forbes Media. Steve Forbes had been CEO of the company and Tim Forbes was the chief operating officer.

While Steve Forbes will remain chairman and editor-in-chief of the privately held Forbes Media Tim Forbes will remain as chairman of Forbes Digital and will be a member of the company's board, but Perlis said he will no longer be COO and that no one will hold that title.

Forbes Magazine comes once in two weeks and has a circulation of over 900,000 with the website getting 18 million unique monthly visits.

"The whole move here is to bring outside energy in to complement all the great things they did with the platform and build value," Perlis told Reuters in a phone interview.

Perlis most recently was general partner at SoftBank Capital, which invested in online news and information companies Beliefnet, Huffington Post and Associated Content. Before that, he had been chairman and CEO of IDG Peterborough and a publisher of Gentlemen's Quarterly, which is published by Conde Nast.

Perlis said that his "kooky background" combining print and online media should give him a good foundation for success at Forbes. He also said that Tim Forbes was instrumental in bringing him to Forbes Media.