Condé Nast this morning announced a restructuring of its executive suite, naming Robert Sauerberg to succeed Charles Townsend as CEO in January 2016.
Townsend, who has been CEO since 2004 and led Condé Nast’s transition from a mainly analogue publisher of consumer magazines into one of the most premium digital publishers, will become chairman of Condé Nast US and chairman emeritus of the parent company.
In a statement, Townsend said Sauerberg has long been in line to succeed him as CEO and cited his role launching Condé Nast Entertainment, “forging innovative subscription business models with Apple and Amazon, and driving huge gains in digital audience and revenue.”
Sauerberg will remain 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.