Condé Nast’s latest restructuring creates awkward summit backdrop

Condé Nast unleashed a second round of corporate restructuring on Tuesday, creating an uneasy backdrop for the Vanity Fair New Establishment summit — with its usual assortment of tech and media moguls — that was getting under way in San Francisco that evening.

In the latest moves, Raul Martinez, a close ally of Anna Wintour, Vogue editor-in-chief and the corporate artistic director, becomes head of the creative group at Condé Nast.

Wintour has switched top editors at many of the magazines since she assumed the corporate roles, and observers see the Martinez appointment as a way to lighten her load while she brings in a trusted ally to work on the design side.

Additionally, the copy and research functions for all the brands are being placed under Christiane Mack, who has been named head of content, strategy and operations.

It comes only one week after the company raided AOL to convince Jim Norton to be the new chief business officer and president of revenue.

According to the announcement from Condé Nast on Tuesday, “Anna and team will be working through the specifics with each brand over the next several weeks and expect to have the groups relocated before the holidays.”

That is likely to stir a new round of unrest in the well-heeled hall of the publisher as the owner of Vogue, Vanity Fair, the New Yorker and GQ heads into the year-end holiday season.

An undetermined number of people are expected to be laid off.

The company was seeking budget reductions of between $20 million and $30 million for 2017 to account for the continued pressure on print ad revenue, sources said.

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