 Luce and Hadden annually alternated year-to-year the titles of president and secretary-treasurer.Upon Hadden's sudden death in 1929, Luce assumed Hadden's position.Luce launched the business magazine "Fortune" in February 1930 and created/founded the pictorial "Life" magazine in 1936, and launched "House & Home" in 1952 and "Sports Illustrated" in 1954.