David Carey is leaving his post as group president at Condé Nast to become president of Hearst Magazines. Carey will succeed Cathie Black in the role, as she moves up to chairman after 15 years as president. This is the second high-profile executive departure to hit Condé Nast this month, as 25-year CN publishing exec Tom Florio, who oversaw titles such as Vogue and Condé Nast Traveler, said last week that he would be leaving the company at the end of the month. A Condé Nast rep tells paidContent that Carey will not be replaced.
In his most recent role, Carey was responsible for Wired and Golf Digest. He had some high points and low points at Condé Nast since taking over as publisher of The New Yorker several years ago. On the plus side, he was credited with helping return that title to profitability. Carey also was the founding publisher of SmartMoney, at the time, a joint venture between Hearst and The Wall Street Journal — Dow Jones (NSDQ: NWS) acquired the title in full in March.
On the negative end, Carey also presided over the creation and demise of Portfolio, which had the misfortune of launching just as advertising was turning downward.
Both Hearst and Condé Nast are members of the digital publishing storefront JV Next Issue Media. But they remain competitors, especially when it comes to achieving primacy on the magazine app front. They also have pursued different strategies, with Hearst moving all its 14 titles to digital app format, while Condé Nast has been more selective, offering only a handful of titles, such as Wired for the iPad, for sale as an app download.