(Adds background on Follo)
Oct 25 (Reuters) - The New York Times' Chief Financial Officer James Follo will retire early next year, the company said on Wednesday, ending a more than 10-year stint at the newspaper publisher.
The Times said it was considering candidates from both inside and outside the company to succeed Follo, who is also executive vice president.
Follo's tenure at the Times represented a crucial transition period for the company, which has been trying to transform itself into a digital media powerhouse to offset falling sales in its traditional print business.
The Times has been posting better-than-expected financial results in recent quarters, spurred by higher digital subscriptions.
Follo took over as the Times' finance chief in January 2007 after serving in a similar capacity at Martha Stewart Living Omnimedia Inc.
The Times will retain an executive search firm to help find Follo's successor, it said. (Reporting by Arjun Panchadar in Bengaluru; Editing by Savio D'Souza and Sai Sachin Ravikumar)