Condé Nast named David Geithner, a one-time candidate to be CEO of Time Inc., chief financial officer as part of a broader reshuffling Wednesday at the publisher of Vogue, The New Yorker and Vanity Fair.
Geithner, a Time Inc. executive vice president who was laid off in a round of cuts earlier this year, will replace John Bellando, who is exiting the company. Geithner is the younger brother of former Treasury Secretary Timothy Geithner.
Editorial director Tom Wallace is also out at Condé, and will not be replaced. His departure seemed preordained when Vogue editrix Anna Wintour added the title of artistic director in March 2013. Since then, she has replaced top editors at Condé Nast Traveler, Lucky and Self — moves that had previously been the domain of the editorial director.
Among the changes, Condé President Bob Sauerberg gained added responsibilities and appears to be the heir apparent to succeed 69-year-old CEO Chuck Townsend.
In a memo to staffers announcing the moves, Townsend said that 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 expands his areas of responsibility beyond the management of digital, technology, consumer marketing, business development, corporate administration and Condé Nast Entertainment,” he continued. “Lou Cona, chief revenue officer and president of CNMG, will now report to Bob.”
Townsend hinted at more changes ahead, saying Sauerberg will make some announcements in the near future. He also singled out Wintour in his memo to staffers.
“Anna Wintour, who last year was named the company’s artistic director, will ensure that our content and culture remain at the forefront of our industry. Bob and I will rely on her for her insights and guidance as we build the team that will lead us into the future,” he wrote.
Condé Nast did not make any of the executives available for comment.