Meredith Corp. Executive Chairman Steve Lacy will retire at the end of March, the board of directors announced today.

Lacy will continue to serve as chairman of the board, a position he has held since 2009, in a non-executive capacity.

Lacy will retire on March 31, following his 65th birthday on March 20, “in line with Meredith’s historical practices,” the announcement said.  “The actions announced by the board today are in keeping with Meredith’s long-standing and highly successful succession planning practice, one that has been in place for 50 years,” said Meredith Vice Chairman Mell Meredith Frazier. “I want to congratulate Steve and thank him for his 20-plus year tenure at Meredith, and look forward to his continued leadership as chairman of our board.”

Lacy joined Meredith as chief financial officer in 1998 and quickly moved into an operating role, leading Meredith’s digital, broadcasting and publishing groups. He was named president and CEO in 2006, and became chairman and CEO in 2009. He moved into the executive chairman role in January 2018, with Tom Harty succeeding him as president and CEO.