In an internal memo sent out Wednesday to Time Inc. employees, Paul Caine, EVP & Chief Revenue Officer of Time Inc. informed employees that Ballas-Traynor will be leaving Time Inc. at the end of April "to pursue a strategic consultancy in the Hispanic marketplace."

In his email message, Caine said: "Lucia has led her sales team to a remarkable 1st quarter in 2011, including breaking new business, increased paging year-over-year and overall growth in digital revenue, as well as spearheading the latest market research with the 2011 H.O.T. study."

A 'People' magazine spokesperson confirmed the news late Wednesday, though a formal announcement has not yet been made. Ballas-Traynor is staying on until the end of April and will work on the transition.

The company has begun a search for a new publisher. 

A native of Chile, Ballas-Traynor joined 'People en Español' in the summer of 2008, replacing Jacqueline Hernandez, who was appointed COO of Telemundo. Prior to joining 'People,' Ballas-Traynor was at MTV where she helped re-launch MTV en español -a virtually nonexistent channel- and later turned it into MTV Tr3s. 

A call to Ballas-Traynor was not returned by deadline.

Lucía Ballas-Traynor has resigned from her post as publisher of 'People en Español,' Portada has learned.

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