New money exec for Condé Nast

Condé Nast watchers wondering what changes new CFO David Geithner might put into place got their first look when he quietly moved in a new top financial person.

Suzanne Reinhardt, a refugee from Condé Nast’s Fairchild Fashion Media group, where she worked on divesting the group to Penske Media Corp., has been named senior vice president of financial planning and analysis.

“Suzanne’s appointment is effective Oct. 6, but you will likely see her around the office soon,” said Geithner.

She replaces Jennifer Graham, who was the right hand for former COO and CFO John Belando, who resigned as Geithner came aboard. Geithner, the younger brother of former Treasury Secretary Tim Geithner, was an executive vice president at Time Inc. but got bounced in the upheavals at that company last year.

The arrival of new bean counters has some Condé insiders on edge.

The Newhouse family that owns Advance Publications, the parent Condé, has been rapidly pruning its media empire. In the past month, it sold Women’s Wear Daily parent Fairchild to Penske and Parade Publications to Athlon Media.

Earlier this year, it spun off struggling Lucky magazine into a new venture with an e-commerce partner. And when it re-started Domino, the popular but money-losing shelter title earlier this year, it was also a joint venture with outside venture partners.

Since the Great Recession struck, Advance Publications has shown little patience with propping up lagging titles in the magazine or newspaper world.

The cutbacks on the newspaper side have been even more dramatic with the New Orleans Times Picayune cutting its print delivery to three days a week and the Star Ledger in Newark forced to make drastic staff cuts to avert a shutdown earlier this year.