Christie Hefner to resign from Playboy

Playboy Enterprises said Christie Hefner, the daughter of founder Hugh Hefner, is stepping down as chairman and chief executive.

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Playboy Enterprises Inc. said Monday it has named Director Jerome Kern to serve as interim non-executive chairman while it looks for a replacement.

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Hefner joined Playboy in 1975 and was named chairman and chief executive officer in 1988. She will stay on as CEO until Jan. 31 and remain on the board until a new CEO joins the company.

In a statement, Hefner said the leadership change was her decision, but it follows signs of trouble for the Chicago-based publishing and entertainment company. In October, Playboy said it planned to cut 55 employees and eliminate 25 vacant positions due to the troubled economy.