Conde Nast shakes up top ranks in search of growth

[July 24, 2010]  NEW YORK (AP) -- Publisher Conde Nast is shuffling its top ranks as it looks to boost growth amid a deep advertising slump across the magazine industry.

Among other changes, the company said Friday that it will split up the roles of President and CEO. Robert Sauerberg, previously head of the company's consumer marketing division, will become president, while Charles Townsend will remain chief executive.

The company said Sauerberg will focus in particular on figuring out how Conde Nast, which publishes Vanity Fair and The New Yorker among its 18 magazines, can make more money outside of its traditinal advertising business.

[Associated Press; By ANDREW VANACORE]

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