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December 10, 2008

Christie Hefner Steps Down

Hugh HefnerÂ’s daughter Christie, who has sat at the helm of the $300 million Playboy Enterprises empire for the last two decades, stepped down from her post yesterday.

The self-described feminist has faced a myriad of challenges on the job in recent years, including falling subscription rates for the companyÂ’s flagship magazine, in part due to the increasingly widespread availability of adult content on the internet. Most recently, there was talk of selling her fatherÂ’s Playboy Mansion residence to raise cash for the corporationÂ’s nose-diving portfolio. Three years ago, Christie was named one of the worldÂ’s most powerful businesswomen. Now, inspired by the Obama campaign, sheÂ’s making noises that suggest a shift into politics.

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