tigerrouge
don't look down
- Joined
- Feb 25, 2005
- Messages
- 18,381
- Reaction score
- 8,319
The Wall Street Journal reports on the changes afoot at Conde Nast:
Condé Nast Names New President
Magazine publisher Condé Nast on Friday promoted three senior executives to new roles, cementing the management bench under Chief Executive Chuck Townsend.
The move comes after several in-house candidates to succeed Mr. Townsend left the company this year, and people familiar with the company said it sets up an eventual CEO successor: Robert Sauerberg, who was named as president. Mr. Sauerberg, who was previously group preident for consumer marketing, is a well-regarded executive who is seen by industry veterans as ripe for a top job at a magazine company.
Mr. Townsend has been both CEO and president. Condé Nast, which publishes Vogue, Glamour and Vanity Fair magazines, said Mr. Sauerberg's main duty will be to help Condé Nast diversify its revenue away from advertising and into new ways of making money from digital and other products.
According to people familiar with the matter, Mr. Sauerberg has been a point man for Condé Nast's strategy for new technologies such as Apple Inc.'s iPad. Mr. Sauerberg also has been instrumental in making Conde Nast more sophisticated about pricing and consumer data for magazine subscriptions, these people said.
Condé Nast, which publishes Vogue, Glamour and Vanity Fair magazines, named Robert Sauerberg as company president. His current post is group president for consumer marketing.
In other changes, Louis Cona, executive vice president for Condé Nast's corporate advertising sales, will become the company's chief marketing officer. Condé Nast Chief Operating Officer John Bellando will add the role of chief financial officer, the New York company said in a statement.
The moves were announced as magazine advertising is rebounding this year after a two-year downturn, easing pressure on publishers that had been forced to cut payrolls and perks and close magazines. Condé Nast last year stopped publishing several magazines including food publication Gourmet and business magazine Portfolio.
In June, David Carey, who oversaw a group of magazines including Wired and Golf Digest, left for rival magazine publisher Hearst Corp., and longtime Vogue publisher Tom Florio resigned to explore opportunities to head his own company. In January, Richard Beckman, who for years led advertising sales across Condé Nast's magazines, took a post running the company that owns the Hollywood Reporter, Billboard and other trade publications.