In a changing of the guard at the publisher of magazines including Vogue and Glamour, Condé Nast has hired Jim Norton as chief business officer and president of revenue, a newly created position.
Chief Marketing Officer Edward Menicheschi and Chief Administrative Officer Jill Bright are leaving the company "as a result of today's announcement," CEO Bob Sauerberg said in a staff memo shared with Ad Age.
Mr. Norton comes to Condé Nast from AOL, where he had been head of global media sales since December 2013. Mr. Norton earlier worked in sales for Google. At Condé Nast, he will also serve as president of revenue.
"Coordinating our numerous revenue operations under one leader is an important step toward our ONE company focus we introduced in January, and empowers our teams to be more responsive to the marketplace," Mr. Sauerberg wrote in the memo. "This new streamlined structure also aligns the company around our goals to extend our leadership position in the print business, realize the vast digital and video potential of our brands and develop new revenue streams."
Mr. Menicheschi's departure was first reported by Women's Wear Daily. The former publisher of Condé Nast title Vanity Fair, he was elevated to CMO and president of the Condé Nast Media Group in 2014. Ms. Bright had been with the company since 1993 and was a low-profile but highly influential power at the company.
"Over the years, and in several different roles and divisions, they both made countless contributions to our company," Mr. Sauerberg wrote of the two in the memo. "They each have played a very large part in our Company's strategy and success, and for that I thank them. Please join me in wishing them the best in their new endeavors."
Mr. Norton, who will report to Mr. Sauerberg, begins Oct. 17.
As a private company, Condé Nast's finances are a mystery, but rumors have been swirling for months about forthcoming cuts and a consolidation of magazine publishers. Mr. Norton's appointment "will aid our transformation into a full-fledged media company," Mr. Sauerberg said.
