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Major Executive Changes at Condé Nast (FishbowlNY)
Big changes have just hit Condé Nast. Editorial director Tom Wallace and COO and CFO John Bellando are both leaving the company, while David Geithner — a former veteran of Time Inc. — is joining as CFO. Capital New York Wallace, who had previously served as editor-in-chief of Condé Nast Traveler, had been editorial director since 2005, helping to craft a consistent brand across the company’s many glossies and its many special editions. WWD / Memo Pad Several other major management changes were revealed, including the expansion of responsibilities of Robert A. Sauerberg Jr., president of Condé Nast. According to a memo, Sauerberg “will assume a leading role in all revenue generation activities, including taking direct responsibility for the Condé Nast Media Group, as well as brand revenue growth.” This will expand his areas of responsibility beyond the management of digital, technology, consumer marketing, business development, corporate administration and Condé Nast Entertainment. THR Bellando joined the company’s executive ranks in 1999. Geithner had spent more than two decades at Time Inc. prior to the appointment at Condé Nast. Most recently, Geithner served as the EVP and president of Time Inc.’s Entertainment Group, and exited the company earlier this year as part of the reorganization prior to the spinoff of the publisher from Time Warner. Time Inc. chairman and CEO Joe Ripp announced Geithner’s departure in a memo on Feb. 4, singling out his contributions to People, Entertainment Weekly and InStyle. WSJ The changes come as Condé Nast, a unit of Advance Publications Inc., is pushing to capture more digital related advertising dollars. Earlier this month, Condé Nast launched a new online video hub called The Scene, intended to serve as a home for all its video channels, including original programming such as The Single Life and Strictly Ballet.