Condé Nast searches for new CEO, merges US & International

The New York-based publisher of Vogue, Vanity Fair and GQ issued this statement overnight:

To realise the full potential of Condé Nast - for our audiences and our business partners - the time is right for the US and International companies to truly function as one company.

We’ve launched a search for a CEO with global experience to run Condé Nast.

Once this CEO is hired, Jonathan Newhouse will become chairman of the board of directors and will relinquish his position as CEO of Condé Nast International.

Bob Sauerberg will continue as CEO of Condé Nast/US until the transition is completed, and then will leave to pursue other opportunities. Other members of the senior operating management teams, including Wolfgang Blau as president of the international division, will remain in their positions.

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. It will also create new opportunities to enhance the collaboration among colleagues around the world.

During the transition, it will be business as usual and we will continue to pursue our strategic plans and growth initiatives.