Conde Nast chief executive Bob Sauerberg steps down amid restructuring
Conde Nast chief executive Bob Sauerberg is stepping down as the publisher merges its US and international operations.
Sauerberg, who has been at the media organisation for 18 years, will step down to pursue other opportunities, the company confirmed today.
The news was first announced in an internal email from Conde Nast chairman and chief executive Jonathan Newhouse viewed by City PM
"Bob Sauerberg has helped steer Conde Nast through a time of enormous transformation in his distinguished 18-years at the company," Newhouse wrote.
The departure comes as Conde Nast moves to combine its US and international divisions to create one global operation.
“Operating as one global company will only help us realise our ambition to deliver the highest quality journalism, experiences and value to our audiences, advertisers and partners,” the company said in a statement today.
“It will also create new opportunities to enhance the collaboration among colleagues around the world.”
Conde Nast, whose publications include the New Yorker, Vogue and GQ, said it has launched a search for a chief executive with global experience.
In the email, Newhouse said the company "expects to conduct business as usual" during the transition period.
In addition, Jonathan Newhouse will become chairman of the board of directors and relinquish his position as chief executive of Conde Nast International.
Last week the publisher announced it will shut the print edition of Glamour magazine as it focuses on digital content.