• by Sara Guaglione , May 29, 2018

Advance Publications Inc. announced Oren Klein will become its next Chief Financial Officer in October.

Klein will succeed Tom Summer, who is retiring. Summer will remain at Advance full time through 2018. He will then become a senior adviser at the company.

Klein has served as vice president of finance and controller at Advance since 2008.

"We will benefit greatly from his wisdom and insight as we guide our businesses through a time of disruption and embark on a multi-billion-dollar capital redeployment effort,” stated Steve Newhouse, copresident of Advance.

Klein has previously held various executive positions at Pitney Bowes.

Advance is owned by the descendants of late S.I. Newhouse and his brother, Donald, and continues to be run, in part, by the family.

The privately held company is the owner of publisher Condé Nast, and operates and invests in a number of media, communications and technology businesses, including Advance Local, American City Business Journals, 1010data and digital marketing agency POP.

Advance is also among the largest shareholders in Charter Communications, Discovery and Reddit.