Chief Business Officer, Foreign Affairs

Since its founding in 1922, Foreign Affairs has been the leading forum for serious discussion of American foreign policy and global affairs. It is now a multiplatform media organization with a print magazine, a website, an app, a podcast, newsletters, and more. Foreign Affairs is published by the Council on Foreign Relations (CFR), a non-profit and nonpartisan membership organization dedicated to improving the understanding of U.S. foreign policy and international affairs through the free exchange of ideas.

Its founding mission was to broaden public understanding of international affairs and create a forum in which experts and policymakers could examine major questions affecting relations among nations. Over its history, the publication has featured contributions from prominent policymakers, scholars, diplomats, economists, and political leaders from the United States and around the world. Foreign Affairs has also played a notable role in the history of U.S. foreign-policy debate.

Foreign Affairs occupies a distinctive position, focused on driving policy and academic debate but with the reach of a general-interest publication. Its editorial model emphasizes long-form analysis, argument and policy ideas, frequently written by individuals directly involved in foreign policy as well as academics and subject-matter experts. As part of CFR, the publication operates within an institution that is nonpartisan and independent and does not take institutional positions on policy issues. Foreign Affairs accordingly serves as a forum for competing perspectives rather than advocating a single institutional foreign-policy position. Its subject matter extends beyond traditional diplomacy and national security to include economics, technology, trade, energy, climate, public health, democracy, political systems and other issues affecting international relations.

The print magazine is published six times per year, with issues appearing on a bimonthly schedule: January/February, March/April, May/June, July/August, September/October, and November/December. Another 8-10 articles run exclusively online every week, and a new episode of the podcast is released once a week. As of 2026, Foreign Affairs had circulation of approximately 226,000, representing a significant expansion from its historical base, with nearly 10% of that total coming from newsstand sales. Total Foreign Affairs revenue exceeded $12 million for the fiscal year, in line with the prior year's record level.

The Role

The Chief Business Officer ("CBO") of Foreign Affairs is the senior executive responsible for leading the business strategy and operations of this highly respected media organization, in service of advancing the magazine’s broader mission and of expanding its impact, reach, and revenue. The Chief Business Officer is also a critical member of CFR’s executive leadership team and will contribute to a culture that embraces transparency and collaboration.

Reporting directly to the President of the Council on Foreign Relations, and working in close collaboration with the Editor of Foreign Affairs, the CBO will join a creative, intellectually curious and entrepreneurial leadership team committed to broadening public understanding of international affairs. The CBO is a team leader who balances deep operational knowledge with strong strategic vision. Overseeing the business side of Foreign Affairs, the CBO is responsible for revenue, marketing, audience development, product and physical production for a brand with more than a century of agenda-setting content. The CBO will serve as an important strategic partner to the Editor on brand strategy, organizational direction and Board communications, helping to shape the long-term business strategy while respecting and reinforcing Foreign Affairs’ editorial standards and independence.

A strategic thinker and proven operator with experience owning a P&L, responding effectively to market changes and cultivating a collaborative organizational culture, the CBO will oversee strategy and execution across Foreign Affairs’ principal revenue streams, including subscriptions, advertising and newsstand. With subscriptions representing the majority of the brand’s revenue, the CBO will bring a sophisticated understanding of subscription economics, consumer marketing and audience development and will lead a seasoned, cross-functional team in balancing audience growth, revenue generation and long-term brand health.

Most importantly, the CBO is responsible for continuing to expand the readership of the magazine while maintaining the legacy of a 100+ year old brand within a rapidly changing media landscape. This will require a strong understanding of how audiences discover, engage with and pay for premium content across both traditional and emerging channels, as well as how technology and changing consumer behaviors are reshaping the economics of publishing.

Key responsibilities:

Strategic and Organizational Leadership

• Bring strategic, visionary, and collaborative thinking to business operations, and develop and implement innovative strategic initiatives in direct support of Foreign Affairs’ and CFR’s mission, goals, and objectives.
• Lead and manage the Foreign Affairs business and team, overseeing the full range of commercial and audience functions, including subscriptions, marketing, product, advertising and sponsorship, licensing, customer service, and related operations—to drive growth, strengthen execution, and deliver against the publication’s business objectives.
• Serve as a key member of the Senior Leadership Team, contributing to organizational strategy and supporting informed institutional decision-making.
• Interact with senior leaders to provide President and the Board with information, analyses, reports, and recommendations, and present this information as required.

Revenue, Subscriptions & Audience Growth

• Lead the overall revenue and subscription strategy for Foreign Affairs, with particular emphasis on growing and retaining its individual and group subscription businesses.
• Oversee acquisition, retention, lifecycle and re-engagement marketing across digital and traditional channels, using data and established KPIs to optimize subscriber growth, retention, conversion and customer lifetime value.
• Lead pricing, packaging and promotional strategy for subscription sales and renewals, identifying opportunities to strengthen the recurring-revenue model and reach new audiences.
• Oversee strategy for group subscriptions across academic, government, NGO and corporate customers.
• Manage overall circulation strategy, balancing new subscriber acquisition and retention while ensuring the long-term health of the brand and its print audience.
• Set the strategic direction for advertising across print, digital, sponsored content and other vehicles, balancing revenue opportunities with Foreign Affairs’ editorial standards and institutional principles.
• Identify and develop new advertising, sponsorship, event, distribution and other complementary revenue opportunities consistent with the brand.
• Oversee global newsstand strategy, including distribution, pricing and promotion, and identify opportunities to maximize brand exposure and maintain a healthy physical distribution network.
• Ensure disciplined management of key fulfillment, paid media, production and distribution partnerships.

Brand Stewardship

• Partner closely with the Editor in Chief on the strategic direction and long-term stewardship of the Foreign Affairs brand.
• Protect and strengthen the reputation, distinctiveness and relevance of a century-old institution while identifying opportunities to expand its reach and impact.
• Provide leadership as the media discovery landscape evolves across search, social, AI-enabled platforms and other third-party channels, ensuring Foreign Affairs remains accessible and relevant to current and future audiences.
• Represent the business organization at Foreign Affairs committee meetings and CFR Board meetings.

Product, Customer Experience & Production

• In partnership with the Product team, drive continuous improvement in the experience of paying customers across print, ForeignAffairs.com, the Foreign Affairs app and customer service.
• Lead digital product strategy, balancing reader engagement, subscription generation, advertising and the long-term needs of the brand.
• Oversee the marketing technology stack and product development across digital properties, ensuring the organization has the capabilities and data needed to understand and serve its audiences effectively.
• Evaluate and leverage AI and other emerging technologies where appropriate to improve efficiency, content discovery and the customer experience.
• Provide strategic oversight of physical magazine production, fulfillment and distribution, ensuring high-quality execution and effective management of critical external partners.

Financial and P&L Management

• Own the full P&L and budget for Foreign Affairs, ensuring strong financial discipline across all functional areas.
• Lead revenue forecasting across subscriptions, advertising, newsstand and other revenue streams and provide senior leadership with clear visibility into business performance.
• Oversee expenses and investment decisions, balancing near-term financial performance with longer-term opportunities for audience, product and brand growth.
• Lead negotiations for major vendor and strategic partner relationships, bringing clear business rationale and disciplined decision-making to significant commitments.
• Maintain regular communication with CFR Finance, senior management and relevant Board committees regarding financial performance, forecasts, investments and business priorities.

Candidate Profile

The successful candidate will be a seasoned, mature and commercially minded media executive with significant experience leading and growing a subscription-driven publishing or content business. They will combine strategic vision with strong operating discipline and bring a sophisticated understanding of how established media brands can expand their audiences, deepen engagement and grow revenue while preserving the quality, credibility and distinctiveness that underpin the brand.

The ideal candidate will bring:

• Substantive general management and business leadership experience, with a demonstrated ability to develop bold, forward-looking business strategies grounded in deep market knowledge, customer insight, data and a clear understanding of evolving audience behaviors.
• A strong track record in publishing, media or a closely related subscription business, ideally involving premium, expert or mission-oriented content and a sophisticated audience. Demonstrated experience setting and achieving ambitious targets for audience and circulation growth, digital engagement, subscription revenue, advertising, sponsorships, events and other complementary revenue streams.
• Deep expertise in subscription economics and consumer marketing, including acquisition, retention and churn; pricing and promotion; lifecycle and re-engagement marketing; customer lifetime value; and the effective use of both digital and traditional channels to drive sustainable growth.
• Demonstrated P&L leadership and financial acumen, with experience establishing budgets and forecasts, making disciplined investment decisions, managing costs and vendor relationships, and balancing near-term financial performance with longer-term audience and brand growth.
• Experience leading a multiplatform media or content business, with a sophisticated understanding of the interplay among print, digital, mobile, newsletters, podcasts, social platforms and emerging distribution channels. Brings a strong understanding of digital product, e-commerce, subscription journeys and marketing technology, as well as how technology and changing content-discovery behaviors are reshaping the customer experience and economics of publishing.
• A sophisticated approach to audience development and analytics, with the ability to use data to understand customer behavior, evaluate acquisition channels, improve conversion and retention, and identify new opportunities to broaden reach and deepen engagement.
• Commercial creativity and an entrepreneurial orientation, with a record of identifying and developing new revenue and distribution opportunities while thoughtfully balancing monetization, audience growth, user experience and the long-term health of the brand.
• Strong brand stewardship and an appreciation for mission-driven organizations; an understanding of the responsibility that comes with leading the business side of a highly respected, century-old institution and demonstrate the judgment to pursue growth while operating within clear editorial and institutional principles.
• The judgment and collaborative instincts to operate effectively in partnership editorial leadership, respecting editorial independence while serving as a strategic partner on broader questions of brand, audience, product, organizational direction and long-term sustainability.
• Proven leadership of high-performing, multidisciplinary teams, with the ability to set clear priorities, develop talent, create accountability and bring together colleagues across marketing, circulation, advertising, product, technology, finance, operations and other functions.
• Exceptional executive presence, communication skills and interpersonal judgment, with the credibility to engage effectively with senior leadership, boards, colleagues, external partners and other stakeholders.

Above all, the successful candidate will combine commercial ambition with institutional judgment: an executive who sees meaningful opportunity to expand Foreign Affairs’ reach and impact, while understanding that growth must reinforce and never come at the expense of the publication’s editorial integrity, reputation and mission.

In terms of the performance and personal competencies required for the position, we would highlight the following:

Setting Strategy

• The ability to create and articulate an inspiring vision for the business side of the organization while partnering closely with editorial leadership to build alignment around shared priorities.
• The inclination to seek and analyze data from a variety of sources to support decisions and align others with the organization’s overall strategy.
• An entrepreneurial and creative approach to developing new, innovative ideas that will stretch the organization and push boundaries within the industry.
• The ability to balance the desire and need for change with an understanding of the organization’s capacity to absorb it, translating ambition into realistic goals and executable plans.

Executing for Results

• The ability to set clear and challenging goals while committing the organization to improved performance; tenacious and accountable in driving results.
• Comfortable with ambiguity and uncertainty, with the ability to adapt nimbly and lead others through complex situations.
• A leader with a high degree of integrity and forethought in decision-making, who acts transparently and consistently while considering what is best for the organization and its mission.

Leading Teams

• The ability to attract and recruit top talent, motivate and develop the team, delegate effectively, foster an inclusive environment and hold individuals accountable for performance.
• The ability to persevere in the face of challenges and demonstrate a steadfast commitment to high standards that earns the respect of colleagues.
• A self-reflective leader who is aware of their own limitations, leads by example and promotes continuous improvement through openness to feedback and development.

Relationships and Influence

• Naturally connects and builds strong relationships with others, demonstrating strong emotional intelligence and an ability to communicate clearly and persuasively.
• Forges and maintains collaborative relationships with the Board, President, Editor and editorial team, creating an environment characterized by trust, mutual respect and constructive partnership.
• Inspires trust and followership through credibility, sound judgment, persuasive communication and a clear sense of purpose.
• Encourages others to share the spotlight and visibly celebrates and supports the success of the team.
• Creates a sense of purpose and meaning for the team that generates followership beyond their own personality and connects colleagues to the broader mission of the organization.

Compensation

The estimated base salary range for this role is $275,000 to $300,000. This range represents CFR’s good faith and reasonable estimate of the possible base salary range at the time of posting and is one part of the total rewards provided to employees.

Contact

Russell Reynolds Associates has been exclusively retained for this search. Given the need for confidentiality throughout this process, prospective candidates are invited to apply directly by sending their resume and brief expression of interest to View email address on click.appcast.io.