Condé Nast and Condé Nast International will combine and be overseen by a newly created CEO position to lead the “new” Condé Nast.
Current Condé Nast CEO Bob Sauerberg will step down amid his aggressive five-year plan to generate $600 million in new revenue for the company. His counterpart at Condé Nast International, CEO Jonathan Newhouse, will give up the position and become chairman of the board of directors after the global CEO is hired.
Sauerberg’s plan for Condé Nast and its portfolio of brands of relying less on advertising dollars and introducing new revenue streams—such as leaning further into video, expanding digitally and holding events—is in place and will continue.
Sauerberg will stay in his position until the search for a global CEO is complete, anticipated to last three to six months.
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