ADVANCE PROMOTES JANINE MCGRATH SHELFFO TO GROUP PRESIDENT AND CHIEF GROWTH & STRATEGY OFFICER

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Jan 03, 2024, 12:55 ET

NEW YORK, Jan. 3, 2024 /PRNewswire/ -- Advance, a private, family-held business that owns and invests in a broad range of companies across media, entertainment, communications, technology and education, today announced that Janine McGrath Shelffo has been named Group President and Chief Growth & Strategy Officer.

In this newly-created role, Shelffo will lead both the growth strategy to define the shape of Advance's expanding operating portfolio and the refinement of Advance's operating model to support its long-term growth ambitions across the enterprise.

Shelffo joined Advance in 2017 as the company's first Chief Strategy and Development Officer following a 25-year career in investment banking. Since then, she has been a key architect of Advance's diversification campaign, deploying over $5 billion to expand the company's operating reach into promising new sectors, including live entertainment, endurance sports and educational technology, as well as strengthening the company's existing businesses through acquisitions, investments and partnerships.

"Janine has been an incredible leader at Advance. She has identified compelling diversification opportunities for us and executed them successfully, often under challenging circumstances. Through service on their boards, Janine has helped oversee the continuing progress of these companies under Advance ownership. She has even helped us articulate our company values and brought the Advance brand and logo into the 21^st century," said Steve Newhouse, co-President of Advance. "We intend to build on this strong foundation, deploying significant capital to thoughtfully add more outstanding companies to Advance," Newhouse continued. "We are delighted to expand Janine's responsibilities to ensure that Advance's partnerships with its operating companies and those in which we are minority investors remain successful as our portfolio continues to grow."

The company's capital deployment initiatives will continue to report to Shelffo in her new role, and she will continue to serve on the boards of Advance operating companies, including Condé Nast, Stage Entertainment, The IRONMAN Group and Turnitin, as well as the board of Guild, in which Advance is a minority investor.

"It has been a rare privilege to work in a family-owned company where humble curiosity reigns and long-term thinking truly means decades or generations," said Shelffo. "I am thrilled by the opportunity to help ensure this historic company thrives in its next century."

About Advance
Advance is a private, family-held business that owns and invests in companies across media, entertainment, technology, communications, education and other promising growth sectors. Our mission is to build the value of our companies over the long-term by fostering growth and innovation. Advance's portfolio includes Condé Nast, Advance Local, Stage Entertainment, The IRONMAN Group, American City Business Journals, Leaders Group, Turnitin and Pop. Together these operating companies employ more than 14,000 people in 29 countries. Advance is also among the largest shareholders in Charter Communications, Warner Bros. Discovery and Reddit. For more information visit www.advance.com.

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SOURCE Advance