Bob Sauerberg promoted to President and CEO of Condé Nast, S.I. Newhouse Jr. to become a Chairman Emeritus
Charles H. Townsend, who has been CEO since 2004, will become Chairman of Condé Nast US
NEW YORK, NY — September 13, 2015 — Robert A. Sauerberg will become CEO of Condé Nast, in January, 2016, Steve Newhouse and Jonathan Newhouse, representing the Condé Nast board of directors, said today.
Charles H. Townsend, who has been CEO since 2004, will become Chairman of Condé Nast US, with S.I. Newhouse Jr. assuming a Chairman Emeritus role.
“Chuck Townsend has done an exceptional job as CEO, leading Condé Nast through a challenging period of change and transition,” the board said in a statement. “We are particularly grateful to Chuck for preparing a succession plan over many years. When Chuck came to us this summer with his request to step up to the Chairman’s role, we knew that Bob Sauerberg was a change agent who was ready to lead the company’s growth agenda.”
Townsend said that his appointment of Sauerberg as President of Condé Nast, in 2010, resulted from the challenge of continuing to lead the company into the digital future while still providing audiences with the finest writing, photography, and design on all platforms.
“In five years of working closely with Bob,” Townsend said, “I saw first-hand how committed he was to deepening Condé Nast’s fundamental mission of quality publishing and, at the same time, to taking advantage of the latest in technology and its possibilities.” Townsend cited Sauerberg’s leadership in launching Condé Nast Entertainment, forging innovative subscription business models with Apple and Amazon, and driving huge gains in digital audience and revenue.
Townsend noted that in the past five years, Condé Nast increased its digital audience from 17.2 million to 87.3 million unique monthly visitors. This gives Condé Nast a ranking of 22nd in Comscore’s top 100 properties. Over the past five years, Condé Nast has more than doubled its digital revenue. In the realm of social media, Condé Nast has achieved a reach of 111 million followers across social platforms such as Facebook, Twitter, Pinterest and Instagram.
Sauerberg will remain as President while adding the title of CEO. Townsend will continue to work closely with Sauerberg and the Condé Nast board, while Sauerberg will assume responsibility for the company’s strategic and day-to-day operations.
“I am thrilled to accept the role of CEO of Condé Nast, and honored to have the opportunity to continue to work with Chuck, the Condé Nast Board and the exceptional editors, publishers, engineers, developers and their teams during this most exciting time in our great company’s history,” said Sauerberg. “Audiences and advertisers have always come to us for the quality of our content—each brand has its distinctive personality and particular brilliance—but we also want to make sure those audiences are able to access our brands on all possible platforms. It’s my job to make sure we remain true to our sense of quality and, at the same time, deliver it efficiently and beautifully, as only Condé Nast can”.
“We have tremendous opportunities at Condé Nast”, Townsend added, “and with Bob at the helm, leading the best editorial and business talent around, our best days are ahead of us”.