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Condé Nast to Merge US and International Companies, Is Searching for Global CEO to Replace Bob Sauerberg
Jonathan and Steve Newhouse released a company-wide email to the employees of Condé Nast this morning outlining some of the publisher’s biggest changes yet: its US and international branches will merge. “What has become clear is that our aspirations are no longer best served by our historical structure of running two separate companies,” the email (written by Jonathan Newhouse and Steve Newhouse on behalf of the Condé Nast Board of Directors) stated. “We have concluded that the time is right for us to combine our U.S. and international companies to realize the full potential of Condé Nast for our audiences and our business partners.”
As part of the consolidation Condé is also searching for a new global CEO outside of the company. Condé Nast International’s current CEO, Jonathan Newhouse, will become Chairman of the Board of Directors once the position is filled. Bob Sauerberg, current CEO of Condé Nast/U.S., will leave the company. Both men will remain in their positions until the new CEO is found. Sauerberg has been with Condé for 18 years, eight of them as its CEO. He is credited with launching Condé Nast Entertainment in 2011.
Jane Birkin and Her Daughters Cover Vogue Paris (Vogue Paris)
Vogue Paris is keeping its Christmas all in the family! Jane Birkin stars on the cover with her daughters, Charlotte Gainsbourg and Lou Doillon. The issue will be out December 6.
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H&M to Shutter Cheap Monday Label (WWD)
H&M is shuttering its Cheap Monday label, citing declining sales. Online shops and its London location will close by the end of this year. The plan is for the business to completely end by June 2019.
Mary Louise Parker, Lucas Hedges, and More Come Out to Fete Ben Is Back
Last night The Cinema Society hosted a special screening of the new movie Ben is Back. Star Lucas Hedges was on hand to fete the film, as were Mary-Louise Parker, Ben Platt, Mamie Gummer, Carol Kane, and more.