November 11, 2024

Condé Nast Selects a Deal-Making Tech Executive as Its New Chief

Mr. Lynch, a veteran of TV and internet businesses, was well compensated at Pandora, receiving roughly $12.7 million in salary, stock awards and bonuses in 2017. After the Pandora sale was announced last year, he declined SiriusXM’s offer for him to stay on. It was around that time that Condé Nast reached out to him.

The unorthodox choice came partly at the suggestion of David Remnick, the editor of The New Yorker, according to Mr. Newhouse. A few weeks after the board announced its search, Mr. Remnick sent Mr. Newhouse a list of six names that included Mr. Lynch.

Mr. Remnick has become something of a talent scout at Condé Nast. He also recruited Radhika Jones in 2017 when Vanity Fair was on the search for a new editor following the departure of its longtime leader Graydon Carter.

There was no aha moment in choosing Mr. Lynch, according to Jonathan Newhouse, a cousin of the company’s late patriarch who has directed its international operations since 1991 and was recently named the chairman of the board. “And that was good,” he said. “We didn’t want someone who was flashy. This was a rational process, and it took a lot of meetings.”

He added, “My role now is to support Roger as he takes on this responsibility, which he’s so superbly qualified to carry out.”

Mr. Lynch, a Virginia native who has bounced around the globe running businesses and start-ups, mostly in the tech industry, spent a large portion of his career at Dish, the satellite TV service. There, he ran the streaming service Sling, the first product to replicate a bundle of cable and network channels on a digital platform.

His experience in television and streaming could help Condé Nast amplify its digital video business, which has become a major source of revenue for the publisher.

Article source: https://www.nytimes.com/2019/04/04/business/media/conde-nast-ceo-roger-lynch.html?partner=rss&emc=rss

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