The 84-year-old billionaire boss has moved into more of an emeritus role with limited corporate responsibilities, posts Forbes' Jeff Bercovici, with the real decision-making taking place at the board level. And unlike media moguls Rupert Murdoch and Sumner Redstone, also in their 80s, Newhouse has shown no interest in hanging on until his dying breath. From Forbes:
What's noteworthy is the way Conde Nast has managed to ease the transition into view without making headlines. Indeed, while several insiders I spoke with regarded Newhouse's changed status as old news, others, including high-level veterans of many years, were unaware there had been a change.
These have been lean times at Conde Nast. Well, leaner. The company has eliminated several hundred positions and closed both Gourmet and Modern Bride.