New York Times's About.com chief to leave

By Kenneth Li and Michele Gershberg

NEW YORK (Reuters) - The chief executive of About.com, an online division of The New York Times Co, will leave the company next week amid a campaign by activist shareholders to accelerate the publisher's digital transition.

Scott Meyer, a Times employee for eight years, became CEO of the network of information sites three years ago. The Times said the About.com business has nearly tripled from $34 million (17 million pounds) in annual revenue to $102 million in 2007 under his watch.

A source familiar with the matter said About.com is not for sale.

"After discussions with Martin, we've agreed that I'll be stepping down from my position as President & CEO of the About Group and leaving the Times Company," Meyer said in a note to staff, referring to Times senior vice president of digital operations Martin Nisenholtz.

The company said it will conduct a search for a replacement internally and externally. News of Meyer's departure was first reported by digital media blog paidContent.

It comes as the Times board is set to meet as early as next week with four board nominees from a dissident group in a proxy battle waged by its largest shareholders, hedge fund Harbinger Capital Partners and investment firm Firebrand Partners.

The shareholders group has urged the Times to shed non-core assets and invest more heavily in digital properties.

The publisher, which also owns the Boston Globe and the International Herald Tribune, has seen stronger growth from the About Group than from its digital businesses overall.