Advance Announces CFO Succession

NEW YORK, May 29, 2018 /PRNewswire/ -- Advance Publications Inc. ("Advance") announced today that Oren Klein will succeed Tom Summer in the role of Chief Financial Officer effective October 1, 2018.  Summer, who had previously announced his plans to retire, will remain at Advance full-time through the end of 2018, and then assume the role of Senior Advisor.

"We would like to thank Tom for his invaluable contributions to Advance during his ten years at our Company," said Steve Newhouse, Co-President of Advance.  "His calm hand, wise counsel, integrity, deep expertise and extraordinary leadership have been critical in shaping our organization.  He has helped us build a solid foundation of financial and human capital that will support the continued growth and transformation of Advance.  We couldn't be more grateful to Tom and are delighted that he will remain a valued advisor to Advance in retirement."

Klein has been Vice President, Finance and Controller of Advance since 2008.  "In addition to his financial leadership and expertise, Oren's strategic perspective and business acumen have been immensely valuable for Advance," said Newhouse.  "We will benefit greatly from his wisdom and insight as we guide our businesses through a time of disruption and embark on a multi-billion-dollar capital redeployment effort."

Before joining Advance, Klein held various executive positions at Pitney Bowes, and gained international experience with Ernst & Young prior to that.  Klein holds an MBA from New York University and undergraduate degrees in Accounting and Commerce from the University of the Witwatersrand in South Africa.

About Advance Publications Inc.
Advance is a diversified privately-held company that operates and invests in a broad range of media, communications and technology businesses globally.  The operating businesses of Advance employ over 12,000 people in over a dozen countries and include:  Condé Nast, a premium media company with a global magazine and digital brand portfolio, including titles such as Vogue, Vanity Fair, GQ, The New Yorker, and Wired; Advance Local, a local news and information publisher of 30 newspapers and 12 digital properties in 10 metro areas and states; American City Business Journals, a business information and events company, including 40 metro business journals and vertical brands such as Sports Business Journal; 1010data, a provider of big data and analytics enterprise solutions; and POP, a digital marketing agency.  Advance is also among the largest shareholders in:  Charter Communications, a leading broadband communications company and the second largest cable operator in the United States; Discovery, a portfolio of premium nonfiction, lifestyle, sports and kids programming brands; and Reddit, a social news and interest forum.

SOURCE Advance Publications Inc.