AMERICAN MEDIA FILLS VACANT CFO POST

While Conde Nast Raids ‘The New York Times’ for Editors

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NEW YORK (AdAge.com) -- American Media has filled its vacant CFO post after seven long months in the hunt by appointing Carlos A. Abaunza to take the job, effective Jan. 16.

Carlos A. Abaunza
The company, publisher of magazines from Star to Shape to Men’s Fitness, is pursuing an initial public offering under David J. Pecker, chairman, president and CEO, a goal he’s been trying to implement since he bought the company in 1999. The lack of a CFO hasn’t helped any. In its most recent filing with the Securities and Exchange Commission, American Media said that its internal control over financial reporting included “material weakness” due to the lack of sufficient personnel.

Mr. Abaunza had been VP-strategic planning at Knight Ridder’s The Miami Herald and previously held posts including VP-corporate controller, Knight Ridder, and treasurer and CFO, World Fuel Services Corp.

He succeeds Thomas Severson, who served as American Media’s CFO for three months before departing last May.

Conde Nast Hires
Conde Nast Publications has raided two of high-profile staffers from The New York Times.

Conde Nast’s newly-formed business group, led by David Carey, named Jim Impocoas deputy editor of the nascent business magazine to be edited by Joanne Lipman. Mr. Impoco had been the Sunday Times business editor.

And Vanity Fair hired Todd Purdum, a longtime reporter for the Times’ Washington bureau, to serve as its first national editor.

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