Catherine Ostler (above left) is to step down as editor of Tatler after almost two years at the helm of CondÃ© Nast's society fashion magazine.
Ostler, who will leave the title at the end of the year, will be replaced by Vanity Fair contributing editor Kate Reardon who is returning to the magazine where she was fashion director in the Nineties.
After editing the London Evening Standard's ES magazine, Ostler joined Tatler in February, 2009 as her predecessor Geordie Greig travelled in the opposite direction to become editor of the Standard.
She said: 'I feel it is time for me to move on and find the next big challenge.
'I am very proud of the magazine that I leave behind. Tatler at its best is a full blast of glamour and excitement. It's a privilege to have been captain of the rocket."
Nicholas Coleridge, managing director of CondÃ© Nast, issued a statement this morning about Ostler's departure.
He said: 'I am very sorry to have to tell you that Catherine Ostler has informed me she wishes to step down from the editorship of Tatler.
'Over the past two years, she has produced a widely-admired and successful magazine, characterised by enthralling journalism, a string of memorable scoops and a rising circulation.
'The editions she has put together have been everything I hoped they might be when I appointed her.
'The 300th Anniversary edition, the biggest in the magazine's history, epitomised her wit and creative flair."
Coleridge said that Ostler would continue to write for CondÃ© Nast publications.
Reardon, who will take up her new post next month, rejoins Tatler after spending 11 years working for Vanity Fair. She has also previously been a columnist for The Times and the Daily Mail and has published two books after starting her career on American Vogue.