Griffin will join the company at the end of September, replacing Ann Moore as chief executive and, after a transition period, taking over her role as chairman.
Moore is retiring after 32 years' service and eight years at the head of the company, which publishes magazines including Time, People and Fortune.
Griffin's last role was president of rival publisher Meredith, which he stepped down from last week.
He created Meredith Integrated Marketing, the company's digital marketing services unit, and played a significant role in helping to acquire Gruner + Jahr USA.
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