New managing editor at Money

The New York Observer reports Craig Matters will replace Eric Schurenberg as managing editor of Money magazine. Schurenberg was laid off Thursday. 

Craig Matters previously held the position of managing editor at Fortune. Editor-in-Chief John Huey wrote the following in a memo announcing the new pick:

Craig knows personal finance and investing. He knows the web. He knows Money Magazine, its audience and all the edit players. He is a change agent and an aggressive, entrepreneurial editor.

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