Conde Nast kicks off outside search for new CEO as Bob Sauerberg prepares to step down | Advertising

Cond Nast, once the most glamorous and moneyed player among the big magazine publishing houses, is acknowledging that it needs new leadershipand “outside” leadership at that.

In a memo to staff this morning, Steve Newhouse and Jonathan Newhouse, scions of the Newhouse clan that controls the privately-held company, write that “We have concluded that the time is right for us to combine our U.S. and international companies to realize the full potential of Cond Nast for our audiences and our business partners,” and that given that reorg, “we have launched an outside search for a CEO with global experience to run Cond Nast.” Bob Sauerberg, the current CEO of Cond Nast U.S., will exit once the new global chief arrives.

Sauerberg took the helm in January 2016 from Charles Townsend, who shifted to chairman of Cond Nast U.S. (Townsend then announced his retirement at the end of 2016).

Continue reading at AdAge.com