Condé Nast Reabsorbs ‘Portfolio’ Execs

William Li and a handful of other ex-Condé Nast Portfolio staffers have been spared unemployment in the wake of the magazine’s folding. Li, who was publisher of the business/luxury lifestyle monthly, was picked up by Condé Nast Traveler to be associate publisher, while his associate publisher, Gail Day, landed an ad director spot at The New Yorker.

Several other Portfolio ad sales and editorial staffers have been or are expected to be placed elsewhere at Condé Nast, although the majority of the 85-plus staffers who worked on the publication are leaving the company.

Condé Nast Portfolio, which promised to revitalize the business category when it launched in 2007, folded with the May issue following a nearly 60 percent falloff in ad pages this year through May versus the year-ago period (when the magazine published one more issue).