Consumer magazine publisher Future has announced that its chief executive, former ITN boss Mark Wood, is stepping down from 1 April.
He will remain a non-executive director of the group but day-to-day management will be passed to current finance officer Zillah Byng-Maddick.
Future chairman Peter Allen said Wood had helped "setting the pace of Future's digital transformation".
He said: "The digital growth which Mark has overseen is unprecedented in our sector, and his focus on driving change across the business continues to deliver efficiencies and opportunities. I am grateful that we will retain his services as a non-executive director.
"Zillah has a proven track record in delivering successful digital transition. And she is the perfect candidate to accelerate the business through its next phase, with a clear focus on right-sizing the organisation and improving margins for the long term."
Wood was appointed group chief executive in 2011. He said: "We have come a long way in the last three years but recent trading results underline that there is still much to be done.
"I will still be involved in the business and will give Zillah all the support I can. But the change in role also allows me to follow up some interesting recent approaches."
Future is due to publish its half-year results on 23 May. The publisher claims 60 million unique users to its websites each month and a 23% market share in audited digital magazines sold on tablets.
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