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Why is this man semi-smiling? We hear Condé Nast Editorial Director James Truman has resigned. Can this be true? Or did we mishear and he's merely "out at lunch"?

Newspaper writers: fire up your "Truman Administration" headlines now!

Breaking...
UPDATE: We're pretending we're journalists and have a few confirmations under our belt. Sources are denying that Truman was canned and claim his move is for nothing more than personal reasons. No internal memo yet, but hopefully we can help speed that process up a wee bit.
UPDATE UPDATE: Oooh, looky, it worked! After the jump, feast upon the internal memo announcing Truman's departure and his replacement by CN Traveler Editor-in-Chief Thomas J. Wallace.

FOR IMMEDIATE RELEASE
January 5, 2005

THOMAS J. WALLACE NAMED EDITORIAL DIRECTOR OF COND NAST

Thomas J. Wallace, editor-in-chief of Cond Nast Traveler, has been named Editorial Director of Cond Nast Publications, by S.I. Newhouse, Jr., Chairman. Mr. Wallace succeeds James Truman, who is returning to Europe after eleven-years as Editorial Director. The appointment is effective immediately.

"Tom Wallace's creativity, intelligence, and his deep reservoir of thoughtfulness, make him an ideal editorial director. I am grateful to James, who has contributed profoundly to the magazines we publish today during his eleven years of service," Mr. Newhouse said.

"After sixteen years at Cond Nast Traveler," Mr. Wallace said, "I know first-hand how well Cond Nast's magazines engage with the world, and I look forward to expanding the company's horizons and my own."

Mr. Truman said, "After the creation of Lucky, Cargo, and the forthcoming Domino, and the revitalization of a number of our other magazines, I felt this was a good time for me to make a change. To work at Cond Nast with Si and our extraordinary editors, art directors, and photographers has been a great pleasure."

Thomas Wallace has been Editor-in-Chief of Cond Nast Traveler since 1990; during his tenure, the magazine won two National Magazine Awards, one for General Excellence and one for photography. He also developed the magazine's Readers' Choice Awards, which led to the creation of The Gold List, the magazine's guide to the 500 best hotels, cruise lines, and spas in the world. Mr. Wallace also conceived of and supervised Cond Nast Traveler: Insider's Guide, a 26-episode series for public television that was launched in October, 2002. Before joining Cond Nast, Mr. Wallace held editorial positions at The New York Times, Newsday, and the Stamford Advocate. He lives in Pelham, New York, with his wife and three daughters. He is a graduate of Harvard University.

James Truman was named Editorial Director of Cond Nast Publications in January 1994, succeeding Alexander Liberman. In 1998-1999, he supervised the design of the Cond Nast Building at Four Times Square. Today, Cond Nast's magazines include Vogue, Architectural Digest, Glamour, Self, GQ, Vanity Fair, Gourmet, Bon App tit, Cond Nast Traveler, Allure, House & Garden, Wired, Lucky, Cargo, Domino, Teen Vogue, and The New Yorker.

Before becoming editorial director of Cond Nast, Mr. Truman was editor-in-chief of Details magazine. From 1990 until 1994, under his leadership, Details was repositioned as a national magazine for men. Mr. Truman originally joined Cond Nast in 1988 as features editor at Vogue. He began his journalism career as a news and arts reporter for the Hampstead & Highgate Express newspaper in London. Mr. Truman was born and raised in England.

PRESS CONTACT:
Maurie Perl, Senior Vice President and Chief Communications Officer, Cond Nast Publications (212) 286-5893