New York Post

Top execs lost in Condé reshuffle

- By KEITH J. KELLY

A reshufflin­g at Condé Nast last week, which promoted top execs into bigger roles with internatio­nal responsibi­lities, also quietly claimed two high-profile casualties.

David Geithner, the chief financial officer, and JoAnn Murray, the chief human resources officer, are reportedly both out.

Chief Executive Roger Lynch — who was tapped in April to blend domestic Condé Nast, which brings in 55 percent of the revenue worldwide, with all the internatio­nal operations — is putting his own stamp on the publishing empire of Vogue, GQ , Vanity Fair and The New Yorker.

Neither Murray nor Geithner, the brother of one-time Treasury Secretary Timothy Geithner, returned calls. The news was first reported Monday by the London-based Business of Fashion.

Geithner earlier worked as an executive VP at Time Inc. before landing the CFO job at Condé five years ago. Murray was appointed to her job in 2012, from Reader’s Digest.

Geithner had signed a one-year contract extension when the company announced Bob Sauerberg was exiting last November. And like Sauerberg, both Murray and Geithner are expected to remain while searches for new executives are underway.

The backdrop for the changes is a company still trying to find its footing in a multimedia landscape. In late July, Lynch acknowledg­ed at a town hall address that the company is missing projection­s, according to a report in Women’s Wear Daily.

The US division, even with a secondhalf boost, will finish this year flat instead of with the projected 4 percent growth.

The town hall did not show profit and loss for the privately held company controlled by the Newhouse family. But the company’s US operations reportedly lost $120 million in 2017, and sources told The Post it lost over $60 million in 2018 with continuing losses expected in 2019.

The London-based wing of internatio­nal returned to profit last year.

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