Speculation about where former Fairchild CEO Gina Sanders would land ended Wednesday when Condé Nast appointed her to the newly created position of president of Global Development.
Condé Nast said last month it is selling the division she has headed since 2010 to Jay Penske’s Penske Media for an estimated $100 million.
In her new role, Condé Nastie Sanders will be based in Paris and New York and report to both Jonathan Newhouse, the CEO of Condé Nast International, and Charles Townsend, the CEO of the domestic wing of the company.
In many ways, the development role means she does not have any direct reports and on the surface is seen as a step down since she is removed from any profit and loss responsibilities.
But since she is married to Steven Newhouse, chairman of Advance Publications and president of Advance.Net, and a key player in the next generation of the family-owned empire, her role will always have wider implications.