Cond Nast C.E.O. Leaves to Run Mattel

Condé Nast’s chief executive, Roger Lynch, who has presided over a tumultuous time at the home of iconic brands like Vogue and Vanity Fair, surprised the publishing world on Wednesday by announcing his departure from the company.In an internal memo, Mr.Lynch said he was leaving after more than seven years to become the chairman and chief executive of the toy company Mattel, which has been eager to expand its reach into the entertainment world.Steven Newhouse, a co-president of Condé’s parent company, Advance Publications, said he had learned of Mr.

Lynch’s departure only on Monday, and credited him with leaving the company “in really good shape.”Condé’s board will begin a search for the next chief executive.Mike Perlis, the lead independent board member and a former chief executive of Forbes Media, will step in as interim chief executive.Mr.

Lynch, 63, took over Condé in 2019, when the company was struggling financially, with losses of more than $100 million annually.He oversaw a period of immense change — including several rounds of layoffs — as he tried to move the business away from print and focus more on events and video.“Together, we navigated a pandemic, enormous disruption across our industry and a media landscape that seemed to change beneath our feet every year,” he wrote.

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