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Business Insider
21 hours ago
- Business
- Business Insider
Anna Wintour's latest career move is her next great leadership challenge
Anna Wintour may be shifting roles, but she's not slowing down. Wintour's decision, announced Thursday, to give up the title of editor in chief of Vogue, a role she's held since 1983, signals a colossal shift at the venerable fashion publication. Yet Wintour isn't departing. Wintour, who is about a decade over the average US retirement age at 75, will hire a new US "head of editorial content" for Vogue, who will report to her. The magazine reported that Wintour would retain many of her duties, including overseeing the Met Ball, and remain as global editorial director of Vogue and chief content officer for Condé Nast, Vogue's parent company. The move is the latest instance of a boldfaced name in leadership planning a shift in their responsibilities, rather than relinquishing them. Condé Nast did not respond to a request for comment from BI on succession plans. Take Warren Buffett, who's 94 and the longest-serving chief of an S&P 500 company, and plans to stay on as chairman after he hands over the CEO job at the end of the year. Jamie Dimon, who's approaching two decades atop JPMorgan, has also said he could stay on as chairman even after he gives up his executive duties. That can be good for individual leaders' well-being and for the entities they lead, though leadership experts told Business Insider that staying too long can also introduce risks. Wintour has not indicated that this is the first step in her retirement plan, but in her comments to staff this week, she emphasized her desire to shape the next generation of talent. "Now, I find that my greatest pleasure is helping the next generation of impassioned editors storm the field with their own ideas, supported by a new, exciting view of what a major media company can be," she said. The benefit for longtime bosses to remain engaged is that it can be good for their sense of purpose and ease their transition to an eventual retirement. It can also benefit their team, as they have the opportunity to pass on a wealth of institutional knowledge to their successor to help avoid missteps. "There's a steady hand at the ship while this transition is happening," Kevin Groves, a professor of management at Pepperdine's Graziadio Business School, told BI. A longevity boost Transitioning — rather than quitting outright — has other perks for leaders. Jasmine Sawhne, a Los Angeles psychiatrist who helps clients with life transitions, told BI that type-A personalities who are wedded to their work tend to benefit from a gradual retirement rather than an abrupt one. "Retirement can affect one's identity, their sense of purpose and daily structure, mental health — it is a huge, significant life change," she said. At the same time, good cognitive health also makes it easier for people to keep working. A recent report on the "silver economy" found that in 41 advanced and emerging economies, a person who reached the age of 70 in 2022 had, on average, the same cognitive ability as a 53-year-old in 2000, making it more likely that they would stay in the labor market. Suddenly withdrawing from a stimulating work environment can impact executive function and memory, which can trickle down to impact everything from a person's sleep quality to their sense of meaning. Leaders who have built-in interactions at work can also experience extreme loneliness when they quit. For those with high-status roles like Wintour, a well-planned transition can be "a really critical step so that they can avoid that post-retirement existential void," Sawhne said. Many centenarians credit their careers (or similar activities, like part-time work or volunteering) with their longevity, keeping them mentally sharp and socially connected. From politicians and big-time execs to Tom Cruise, who's said he plans to make movies until he's 100, it's often hard for strivers to give up the roles they love. Helping fill the biggest shoes Another perk of shifting responsibilities rather than retiring outright is preventing the "emotional whiplash" of an organization adjusting to a new leader, Sawhne said. It can also give leaders more time to train or mentor their successors. Still, she said, remaining at the helm long-term can cause friction if the new hire doesn't understand how much authority they really have or who's truly in charge. Gary Rich, a leadership coach who's worked with Fortune 500 companies on succession planning, told BI that it can be hard for leaders, particularly ones who've demonstrated long-term success, to give up their roles even when they say they're ready to. Rich said incoming leaders often value having someone who's been at the job stick around for a bit to assist in the transition. He said that 20% of his work involves coaching the new person, while 80% involves convincing the outgoing leader to let go. He said the reason is simple: High-powered leaders often draw enormous validation and self-esteem from their roles."Asking people to let go of that is asking them to let go of a major part of their identity," Rich said. The trick is, he said, not to stay too long. Rich said the limit should be three months. Planning for the future As great as a soft exit is, the key is making sure it leads somewhere. Rich said it becomes difficult for the new guard to establish power when the old boss hangs on, and members of the organization might still go to the predecessor through back-channel communications. Nailing a subtle role shift is easier said than done. Sawhne said it's crucial to have a support system of people who can offer validation that "you're not retiring from influencing some company; you're just retiring from the intensity of the work that you're putting in."
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Business Standard
a day ago
- Entertainment
- Business Standard
Anna Wintour takes a step back, Vogue US to seek new editorial lead
Anna Wintour has announced plans to appoint a new head of editorial content (HOEC) for US Vogue, marking the end of her 37-year tenure as the magazine's editor-in-chief. The news was shared with staff on June 26, as reported by Vogue. Wintour, 75, will continue in her roles as Condé Nast's chief content officer and Vogue's global editorial director. While she retains editorial oversight of the company's full portfolio, including Vanity Fair, GQ, WIRED, Architectural Digest, Bon Appétit, Condé Nast Traveler, Allure, Teen Vogue and Tatler. However, her day-to-day involvement in Vogue US operations will soon pass to a new editorial lead. That person will report directly to Wintour, consistent with the structure across the brand's global editions. In a meeting with staff, Wintour said, 'Anybody in a creative field knows how essential it is never to stop growing in one's work. When I became the editor of Vogue, I was eager to prove to all who might listen that there was a new, exciting way to imagine an American fashion magazine.' She added, 'Now, I find that my greatest pleasure is helping the next generation of impassioned editors storm the field with their own ideas, supported by a new, exciting view of what a major media company can be. And that is exactly the kind of person we need to now look for to be HOEC for US Vogue.' Wintour to retain Met Gala, fashion oversight Though Wintour will relinquish the top editorial title at Vogue US, she made clear that many of her duties would remain unchanged. 'That includes paying very close attention to the fashion industry and to the creative cultural force that is our extraordinary Met Ball, and charting the course of future Vogue Worlds, and any other original, fearless ideas we may come up with,' she said. 'And it goes without saying that I plan to remain Vogue's tennis and theatre editor in perpetuity.' She concluded, 'How thrilling it will be to work alongside someone new who will challenge us, inspire us, and make us all think about Vogue in a myriad of original ways.' Wintour stepping back, not retiring Wintour's announcement is not a retirement, but rather part of a broader global restructuring at Condé Nast. Her expanded responsibilities as chief content officer, first assumed in 2020, have seen her take a more strategic, cross-brand leadership role across the company's worldwide operations. Anna Wintour net worth, salary Since becoming Vogue's editor-in-chief in 1988, Wintour has become one of the most influential figures in fashion. Over nearly four decades, she reshaped the American fashion media landscape, championed celebrity covers, and turned Vogue into a cultural gatekeeper. Her influence stretches beyond the page: from the launch of Vogue World to her long-running stewardship of the Met Gala, first co-chaired in 1995, Wintour has made fashion a fixture of mainstream culture. Her financial stature matches her cultural clout. In a 2020 article, Business Insider r eported that Wintour's annual salary was $2 million and her net worth was estimated at $35 million. Aside from that, Wintour also reportedly received benefits, including a $200,000-a-year clothing allowance strictly for workwear. Her image inspired the character Miranda Priestly in The Devil Wears Prada, played by Meryl Streep in the 2006 film adaptation of a novel by a former assistant. Her signature look of a bob and sunglasses has also made her one of the most recognised figures in fashion. Condé Nast, Vogue: Controversies, racism allegations However, her time at Vogue has not been without controversy. Wintour and Condé Nast have faced allegations of racism, classism and discrimination. In 2020, following criticism from former employees, Wintour issued an apology in a note to staff, acknowledging Vogue's 'hurtful and intolerant' behaviour and pledging to do better. That same year, longtime collaborator and former Vogue editor-at-large André Leon Talley accused Wintour of ageism and fatphobia in his memoir The Chiffon Trenches. Talley detailed their strained relationship and suggested that Wintour had discarded him after decades of work together. Wintour has also been accused of nepotism when she appointed her Mark Guiducci, 36, to lead Vanity Fair. Now the question arises on who will be filling Wintour's role at Vogue?
The Independent
2 days ago
- Entertainment
- The Independent
Anna Wintour to step aside as editor of American Vogue
Dame Anna Wintour is to step aside from her role as the day-to-day editor of American Vogue, with the magazine hiring a new head of editorial content. British-born Dame Anna will remain in charge of Vogue globally and as chief content officer of the media company Conde Nast – which oversees several prominent media brands including Vogue, Vanity Fair, GQ, Allure, Conde Nast Traveler and Wired. The new role at American Vogue will allow her to turn her full attention to her other duties in these roles, it is understood. Dame Anna broke the news to staff during a meeting earlier on Thursday. According to Vogue, she told staff she wanted to 'help the next generation of editors storm the field with their own ideas'. She said: 'Anybody in a creative field knows how essential it is never to stop growing in one's work. When I became the editor of Vogue, I was eager to prove to all who might listen that there was a new, exciting way to imagine an American fashion magazine. 'Now, I find that my greatest pleasure is helping the next generation of impassioned editors storm the field with their own ideas, supported by a new, exciting view of what a major media company can be. And that is exactly the kind of person we need to now look for to be HOEC for US Vogue.' She said many of her responsibilities would continue including 'paying close attention to the fashion industry and the creative cultural force that is our extraordinary Met Ball', and also quipped: 'And it goes without saying that I plan to remain Vogue's tennis and theatre editor in perpetuity.' Dame Anna added: 'But how thrilling it will be to work alongside someone new who will challenge us, inspire us, and make us all think about Vogue in a myriad of original ways.' The move brings a close to Dame Anna's 37-year stint as editor of American Vogue, having overseen the day-to-day editing of the New York fashion magazine since 1988. The British-American editor is widely regarded as one of the most powerful women in publishing and as a major figure in the fashion world. Dame Anna has also run the Met Gala, an annual fundraiser in New York famous for its celebrity guest list, since 1995. Earlier this year, Dame Anna was made a member of the prestigious Order of the Companions of Honour for her services to fashion, joining Dame Judi Dench, Sir Elton John, David Hockney, and Sir Paul McCartney. The order was founded in 1917 by George V and is limited to 65 members at any one time. Appointments go to those who have made a long-standing contribution to arts, science, medicine or government. Following the investiture ceremony at Buckingham Palace, Dame Anna said she did not intend on retiring anytime soon. She said: 'The last time I was here the Queen gave me a medal and we both agreed that we had been doing our job a very long time, and then this morning His Majesty asked me if this meant I was going to stop working and I said firmly, no.' Dame Anna is rumoured to have inspired a former personal assistant, Lauren Weisberger, in creating the character of Miranda Priestly for her bestselling 2003 novel The Devil Wears Prada. The book was made into a successful movie in 2006, starring Meryl Streep in the role of Priestly.
North Wales Chronicle
2 days ago
- Entertainment
- North Wales Chronicle
Anna Wintour to step aside as editor of American Vogue
British-born Dame Anna will remain in charge of Vogue globally and as chief content officer of the media company Conde Nast – which oversees several prominent media brands including Vogue, Vanity Fair, GQ, Allure, Conde Nast Traveler and Wired. The new role at American Vogue will allow her to turn her full attention to her other duties in these roles, it is understood. Dame Anna broke the news to staff during a meeting earlier on Thursday. According to Vogue, she told staff she wanted to 'help the next generation of editors storm the field with their own ideas'. She said: 'Anybody in a creative field knows how essential it is never to stop growing in one's work. When I became the editor of Vogue, I was eager to prove to all who might listen that there was a new, exciting way to imagine an American fashion magazine. 'Now, I find that my greatest pleasure is helping the next generation of impassioned editors storm the field with their own ideas, supported by a new, exciting view of what a major media company can be. And that is exactly the kind of person we need to now look for to be HOEC for US Vogue.' She said many of her responsibilities would continue including 'paying close attention to the fashion industry and the creative cultural force that is our extraordinary Met Ball', and also quipped: 'And it goes without saying that I plan to remain Vogue's tennis and theatre editor in perpetuity.' Dame Anna added: 'But how thrilling it will be to work alongside someone new who will challenge us, inspire us, and make us all think about Vogue in a myriad of original ways.' The move brings a close to Dame Anna's 37-year stint as editor of American Vogue, having overseen the day-to-day editing of the New York fashion magazine since 1988. The British-American editor is widely regarded as one of the most powerful women in publishing and as a major figure in the fashion world. Dame Anna has also run the Met Gala, an annual fundraiser in New York famous for its celebrity guest list, since 1995. Earlier this year, Dame Anna was made a member of the prestigious Order of the Companions of Honour for her services to fashion, joining Dame Judi Dench, Sir Elton John, David Hockney, and Sir Paul McCartney. The order was founded in 1917 by George V and is limited to 65 members at any one time. Appointments go to those who have made a long-standing contribution to arts, science, medicine or government. Following the investiture ceremony at Buckingham Palace, Dame Anna said she did not intend on retiring anytime soon. She said: 'The last time I was here the Queen gave me a medal and we both agreed that we had been doing our job a very long time, and then this morning His Majesty asked me if this meant I was going to stop working and I said firmly, no.' Dame Anna is rumoured to have inspired a former personal assistant, Lauren Weisberger, in creating the character of Miranda Priestly for her bestselling 2003 novel The Devil Wears Prada. The book was made into a successful movie in 2006, starring Meryl Streep in the role of Priestly.
Glasgow Times
2 days ago
- Entertainment
- Glasgow Times
Anna Wintour to step aside as editor of American Vogue
British-born Dame Anna will remain in charge of Vogue globally and as chief content officer of the media company Conde Nast – which oversees several prominent media brands including Vogue, Vanity Fair, GQ, Allure, Conde Nast Traveler and Wired. The new role at American Vogue will allow her to turn her full attention to her other duties in these roles, it is understood. Dame Anna broke the news to staff during a meeting earlier on Thursday. According to Vogue, she told staff she wanted to 'help the next generation of editors storm the field with their own ideas'. She said: 'Anybody in a creative field knows how essential it is never to stop growing in one's work. When I became the editor of Vogue, I was eager to prove to all who might listen that there was a new, exciting way to imagine an American fashion magazine. 'Now, I find that my greatest pleasure is helping the next generation of impassioned editors storm the field with their own ideas, supported by a new, exciting view of what a major media company can be. And that is exactly the kind of person we need to now look for to be HOEC for US Vogue.' She said many of her responsibilities would continue including 'paying close attention to the fashion industry and the creative cultural force that is our extraordinary Met Ball', and also quipped: 'And it goes without saying that I plan to remain Vogue's tennis and theatre editor in perpetuity.' Dame Anna added: 'But how thrilling it will be to work alongside someone new who will challenge us, inspire us, and make us all think about Vogue in a myriad of original ways.' Dame Anna Wintour was made a Companion of Honour by the King at Buckingham Palace (Jordan Pettitt/PA) The move brings a close to Dame Anna's 37-year stint as editor of American Vogue, having overseen the day-to-day editing of the New York fashion magazine since 1988. The British-American editor is widely regarded as one of the most powerful women in publishing and as a major figure in the fashion world. Dame Anna has also run the Met Gala, an annual fundraiser in New York famous for its celebrity guest list, since 1995. Earlier this year, Dame Anna was made a member of the prestigious Order of the Companions of Honour for her services to fashion, joining Dame Judi Dench, Sir Elton John, David Hockney, and Sir Paul McCartney. The order was founded in 1917 by George V and is limited to 65 members at any one time. Appointments go to those who have made a long-standing contribution to arts, science, medicine or government. Following the investiture ceremony at Buckingham Palace, Dame Anna said she did not intend on retiring anytime soon. She said: 'The last time I was here the Queen gave me a medal and we both agreed that we had been doing our job a very long time, and then this morning His Majesty asked me if this meant I was going to stop working and I said firmly, no.' Dame Anna is rumoured to have inspired a former personal assistant, Lauren Weisberger, in creating the character of Miranda Priestly for her bestselling 2003 novel The Devil Wears Prada. The book was made into a successful movie in 2006, starring Meryl Streep in the role of Priestly.
