Condé Nast CEO Roger Lynch Departs for Mattel

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After seven and a half years as CEO of Condé Nast, Roger Lynch announced today that he will be leaving the company for Mattel, maker of Hot Wheels, Polly Pocket, American Girl, Fisher-Price, Pictionary, Apples to Apples, and, of course, Barbie.

In a statement posted on Condé Nast’s website, Lynch described the decision to move on as “difficult” and “bittersweet.”

“When I joined Condé Nast, I had the simple ambition to leave this extraordinary place stronger than I found it,” wrote Lynch. “Together, we navigated a pandemic, enormous disruption across our industry, and a media landscape that seemed to change beneath our feet every year. And yet, there is no doubt that we transformed Condé Nast for a new era. We brought our global businesses together, built a unified company, and strengthened our journalism and creative work. One of the big areas of opportunity I saw when I joined the company was to expand our consumer and events businesses. Those of you who have been with Condé Nast for these last seven years have heard me talk about this focus many times. I’m particularly proud of how far we’ve come in these areas: since 2020, revenue from commerce grew by 170%, digital subscriptions by 155%, and US tentpole events increased ninefold.”

Lynch also praised Condé Nast’s hard working and dedicated staff: “Through all of it, what has remained constant is the exceptional work produced and the brilliant team that has made it possible. I’ve never been more inspired in my career than when I’ve been with you.”

Lynch might be stepping down as CEO, but he’s not leaving Condé Nast altogether. According to his announcement, he will continue in his role as a member of the Condé Nast Board of Directors and remains “deeply invested in the company and its future.”

Mike Perlis, Condé Nast’s lead independent director, will serve as interim CEO while the board seeks out a more permanent replacement. Perils has a BA in comminications from Syracuse University and served as CEO and executive chairman of Forbes Media from 2010 to 2017. Before that, he Spent 10 years at SoftBank Capital where, according to his LinkedIn page, he specialized in “digital content startups working very closely with GSI Commerce, Beliefnet, Huffington Post, Associated Content, Buzzfeed, and others.”