Jonathan Newhouse, newly appointed chairman of the company, said a “thorough search” had determined that Lynch is “the right person to lead Condé Nast during our new phase of global integration, growth and transformation.”
Board member Steve Newhouse saluted Lynch’s “passion for great journalism, magazines that make a difference, and brands that have exceptional potential for growth.”
Condé has a stable of estimable magazine brands, including The New Yorker, Vogue and Vanity Fair, but has seen double-digit declines in print circulation and declines in advertising, with Facebook and Google vacuuming up nearly 80 cents of every dollar spent on online advertising.
Lynch, whose tech-oriented travels have also included stints at Video Networks International in the UK and a period as an investment banker when his moves included the IPO for Broadcast.com.
Bob Sauerberg, who had led Condé Nast for 18 years, had previously announced his plans to exit the company, though he will keep a hand in the company’s interest in Reddit via a board seat.
Lynch’s appointment takes effect April 22.
Like many other media giants long dependent on print publishing and advertising for their main revenue sources, Condé Nast has been scrambling to reinvent itself. The home of venerable magazine brands launched an entertainment division several years ago, pumping out short-form digital video as well as hatching longer film and TV projects.
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