Another executive leaves Condé Nast
Condé Nast announced the departure of another member of its executive team Thursday, the third in the last two months.
Lou Cona, chief revenue officer of Condé Nast and president of Condé Nast Media Group, will be leaving the company, according to a press release. No reason was provided for his departure.
Last month, CEO Charles Townsend said in a memo to employees that Chief Financial Officer John Bellando and editorial director Thomas Wallace were leaving the company but did not say why. Bellando was replaced by David Geithner, a former Time Inc. executive.
In the same memo, Townsend said he would be making announcements about the company's business strategy in the future.
Cona will be replaced by Vanity Fair publisher Edward Menicheschi, who has held top jobs at Vogue and GQ and was formerly president of WWD Media Worldwide, according to the release. Condé Nast will be announcing his replacement soon.
The full release is below:
Robert A. Sauerberg, president of Condé Nast, today named Edward Menicheschi chief marketing officer and president of the Condé Nast Media Group, effective immediately. Mr. Menicheschi was most recently vice president and publisher of Vanity Fair.
“Edward has posted extraordinary business results while leading Vanity Fair's drive into cross-platform ad initiatives including digital, print, video and event activation,” said Mr. Sauerberg. “As we build the team that will lead Condé Nast forward, we will rely on Edward to bring his shrewd business skills, his strong relationships and his proven leadership abilities to elevate the company’s advertising and marketing power.”
“Condé Nast has the world’s most impressive portfolio of advertisers and our brands consistently deliver the most influential and prominent audiences,” said Mr. Menicheschi. “With this premium positioning, we are poised to develop a superior marketing and advertising organization. This is an unprecedented opportunity to transform the Condé Nast Media Group to more effectively reach premium audiences, cultivate data services, and innovate new ad products, native and client solutions, and large cross-platform deals. I am thrilled to take on this new role and work with Bob and the incredibly talented teams at the brands and the Media Group to drive these initiatives forward.”
Mr. Menicheschi succeeds Lou Cona, who will leave the company after many successful years of service. Condé Nast will name a new publisher for Vanity Fair shortly.
Prior to Mr. Menicheschi’s role at Vanity Fair, he was president of WWD Media Worldwide. During Mr. Menicheschi’s tenure at the company, he has held a number of senior roles at Vogue and GQ.