Willard Jackson Jr. has been removed as CEO of Ebony Magazine by its board of directors amid an ongoing investigation into his transactions, reported USA Today.
“The lack of transparency led to us wanting to drill down on, not only the transactions, but on a bunch of other things,” the board’s new chairman Jacob Walthour Jr. told USA TODAY. “As we did that, we became increasingly uncomfortable and we decided as a board that it was time for Mr. Jackson to be removed as the CEO.”
An interim CEO and operating committee will be appointed per a board statement.
Jackson’s removal is the latest chapter in the magazine’s ongoing saga of challenges. Ebony – which will celebrate its 75th Anniversary this year – has long been subject to controversies following the death of its founder John H. Johnson in 2005.
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They range from filing Chapter 7 bankruptcy and allegedly not paying staff and contributors to facing a class action lawsuit, The Root reported. The magazine was also forced to sell its historical photo collection last year.
The board said they will prioritize paying outstanding compensation to employees and Walthour added they are committed to restoring the once iconic magazine to its former glory.
“The board of directors individually and collectively understands the legacy and value of Ebony to Black communities globally,” Walthour said in the statement. “Founder John H. Johnson conducted himself and Ebony business with a level of class, integrity and honor that has come to define Black professionalism in America. While the Board expects that Ebony will always need to adapt its business model to stay relevant, it must never compromise the core values of Mr. Johnson.”
