Christie Hefner Hangs Up Her Hat at Playboy

By Ali Trachta in News on Dec 8, 2008 9:23PM

Christie Hefner, Chairman and CEO of Playboy Enterprises and daughter of founder Hugh Hefner, announced today that she'll be stepping down from her posts effective January 31, 2009. 56-year-old Christie assumed leadership of the company in 1988 and bolstered the slumping image the brand had endured in the 1980s. Despite success over the last two decades, revenue from Playboy's magazine circulation and television programming are lagging. Still, Christie insists no one encouraged her to resign. She intends to pursue public service and non-profit work once her tenure has ended. Her proud papa had this to say:

"I asked Christie to step up as president when the company faced serious financial difficulties more than two decades ago. She has worked tirelessly to expand the company's franchise, and, as a result of her efforts, the company today has more consumers and fans than at any time in our history. Of course, as her father, my first priority is Christie's happiness. While I will miss her leadership here, I believe that she will go on to achieve even greater personal success."

Christie plans to keep her homebase here in Chicago, both for herself and for the company. She told the Trib there are no plans to relocate Playboy's headquarters, and as for her and her husband, former Illinois state Sen. William Marovitz:

Billy and I don't want to leave Chicago, so this is going to be home. Whatever I do is going to be done from here. I think it's going to be a mix. I think I'm going to find ways to give back both in the nonprofit side and public service. But I also have enjoyed the board work, the TV commentary and the speaking that I've done. I really don't plan to look for a CEO job. Been there, done that.

Playboy gained new popularity in recent years due in part to the reality TV series Girls Next Door, which features Hef's three live-in girlfriends and has helped the brand connect to young women for the first time. However, the fate of the series is unknown now that Hef has kicked main girlfriend Holly Madison to the mansion curb, and she's now dating illusionist Criss Angel. We're really not sure which boyfriend is creepier. [Trib]

AP Photo/Stephen Chernin