Hearst has hired Carol Smith to replace Valerie Salembier as Harper's Bazaar's new publisher, vice president, and chief revenue officer; Salembier is leaving to take the same position at Town and Country. Smith is best known for running Elle from 2002-2010, which she left to run Condé Nast's food brands (Bon Apetit and Epicurious, among others) in April last year. She didn't mesh with the Condé culture, apparently, and left after only six months, stating that "the opportunity turned out not to be what either Condé Nast or I expected."
The decision to hire Smith is likely due to Hearst trying to keep Harper's Bazaar from being overshadowed by Elle, which will come under the Hearst umbrella as soon as its acquisition from Lagardère gets ironed out. It also sends a message that the company is bent on locking down more fashion ad dollars, which Smith was notoriously good at securing for Elle.
Meanwhile, Salembier is replacing Jim Taylor at Town & Country; Taylor is reportedly decamping to Massachusetts. All changes take effect on June 1.