CONDE MEDIA REBOOTS: A restructuring of the Condé Nast Media Group is under way and 12 people will be let go as a result, including Thomas Hartman, senior vice president, corporate sales and Robert Silverstone, senior vice president, finance. In a memo to the group, chief marketing officer Lou Cona told staffers on Wednesday afternoon that Josh Stinchcomb has been named vice president, corporate partnerships. Stinchcomb will lead the corporate sales team across all revenue streams, including print, digital, mobile, video and marketing services. He had previously been in charge of digital sales.
Pat Connolly has been named vice president, marketing solutions, and he will oversee a newly combined integrated marketing and marketing services team as well as The Studio and creative development. Daniella Wells will become vice president, insights and brand strategy and Judy Safir succeeds Silverstone as vice president, finance.
This story first appeared in the July 12, 2012 issue of WWD. Subscribe Today.
The changes come to Condé Nast Media Group as Cona looks to more fully integrate digital and print, which have often been sold separately.
Publishers at Condé Nast titles are feeling the pinch as well. The September issues — typically the biggest and most profitable of the year for many magazines at the company — didn’t do as well as hoped. As a result, publishers have been advised to cut their budgets by 10 percent for the remainder of the year. This is in line with McKinsey’s suggestions for the business, according to sources. A spokeswoman at Condé Nast had no comment regarding the budget cuts.