Following months of rumblings about big changes at Condé Nast, the publishing giant seems to finally be making good on the predictions. Today, Condé confirmed speculation about major restructuring in its corporate sales department in an effort to integrate its print and digital sides.
In the last phase of this integration, which started in 2010 when Lou Cona was named CMO, the historically print-driven company elevated some of its well-respected digital execs, a recognition that while magazine ad page growth has been soft this year, declining 8.8 percent in the first half, digital continues to expand. Josh Stinchcomb, formerly head of digital sales, was promoted to vp for corporate partnerships and will oversee corporate sales across print, video, digital, mobile and marketing. Also coming out ahead is Pat Connolly, a Digitas vet who was promoted to vp of marketing solutions for an as-yet unnamed marketing and marketing services division. The activities of Ideactive, a new marketing services arm that went after non-media dollars, will continue and will come under his division.
"Given our rapidly changing environment fueled by ongoing technological advances, we must continually evolve to remain in sync with the needs of our clients," Condé Nast CMO Lou Cona said in an internal memo explaining the changes. "With those needs in mind, and in keeping with our strategy set 18 months ago, the Media Group has simplified its structure and become fully integrated. Our team will be more agile and efficient in an increasingly complex marketplace and better equipped to deliver Condé Nast’s assets and capabilities for the highest level of solutions-based media and marketing services."
“Based on the paradigm shift that’s happening in the marketplace," said Robin Steinberg, evp at MediaVest, "they’re taking their strongest digital talent and putting them at the forefront of the business units.”
Twelve executives have been laid off as part of the restructuring, including Thomas Hartman, the company’s svp for corporate sales; longtime company veteran and svp of finance Rob Silverstone, who will be replaced by Judy Safir. Others leaving are Janine Silvera, Linda Mason and Jamie Altschul.