Janice Min is stepping down as the president and chief creative officer at The Hollywood Reporter, the magazine and brand she revitalized after taking it over in 2010.
Min will embark on a new career with THR's parent company, Eldridge Industries, at the end of February, according to The New York Times.
Min, who reportedly owns a "substantial" stake in THR, will take on a new role in "media-investment strategy" for the company, she told The Times.
As for why she's opting to leave her post, Min told The Times, "It's a natural progression. It's a much easier decision when there are great people to take the reins."
Min's successor is Matthew Belloni, her longtime executive editor, who will assume the role of editorial director once she leaves.
"I'm going to miss her tremendously," Belloni told CNNMoney. "She was a great mentor figure. The nice thing about the transition is I've been here working alongside her for seven years and was involved in the conception of the magazine to transforming it to a website 24/7 news program. We are going to miss her tremendously but I'm confident we can carry on that legacy and do some exciting new things."
For now, at least, the magazine is likely to continue along the path that Min has set for it.
"It's not a shake-up, it's a transition," Belloni said. It's a natural progression. This is how it's supposed to work, Janice has been tremendously successful and has groomed someone who can take the reins. She's moving to the parent company and that's a great thing for all of us and she'll be involved with the future of the brand and our owner is very ambitious and may want to buy new things, I welcome it."
Min, formerly the editor-in-chief of celebrity news magazine Us Weekly, has been credited with turning around THR and transforming its image. When Min joined the company in 2010, she took it from a five-day-a-week trade publication and made it into a visually stunning glossy weekly, focusing on the entertainment industry's heavyweights.
"I think it's important to note that what's made The Hollywood Reporter so successful is the quote unquote 'secret sauce': news analysis, lifestyle, aspirational pieces, and I intend to keep that mixture," Belloni said. "We are not going to be lessening up on our fashion coverage or stop covering high-end real estate. It's going to continue to be a mix that people really enjoy and why people enjoy the brand."
Min's vision has clearly been popular. THR reached over 16 million unique visitors in December, according to Comscore.
"It's no secret The Hollywood Reporter was pretty much one foot in the grave, the other foot very closely behind it," Min said in a radio interview with WBEZ 91.5 last February. "[I took this job because] for starters I wanted to live in Los Angeles ... but more importantly I thought this seems like a doable proposition. New York City is a media town, there are too many publications, too many websites, people know everything about editors and who works where and here [in LA] that doesn't exist and so I felt like I had an outsiders perspective on this industry here ... they pretty much handed me a blank slate."
