Condé Nast has announced that it is overhauling its senior-level management and appointing a new president.

The company has split the role of chief executive officer and president into two roles under the reshuffle.

Condé Nast president of consumer marketing Robert Sauerberg (pictured) was named in an internal memo last week as the new president, according to The New York Times.

Charles Townsend, who has held the role of chief executive and president since 2004, will continue in his role as chief executive.

To read the full Condé Nast press release click here.

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