Larry Burstein, who has served as publisher of New York magazine for the last 13 years, is leaving that role, he announced in a memo to staff Friday morning.
Mr. Burstein was on his third term as a New York magazine employee -- he worked as an account executive in the early 1980s, returned in 1984, left again, and returned in 2003 as publisher.
New York magazine will hire a chief revenue officer to replace Mr. Burstein, who will leave when his successor is hired and gets a few weeks on the job.
Mr. Burstein said he will take some time off, but will be open to new opportunities, especially at legacy brands that have value to be unlocked (his words).
"I've done really terrific work, and it's been a great place to work," he said of his time at the magazine. "I can't imagine anything better than working with [editor Adam Moss] and [CEO Pamela Wasserstein] on a project like this. We're ambitious, we're not afraid to try new things, and it's a pretty great experience."
Mr. Burstein said he decided to leave, but wanted to make sure the timing was right, especially because Ms. Wasserstein only recently took over the company her father purchased in 2004.
"Larry Burstein has been a magnificent publisher of New York, and a great friend and partner," Mr. Moss said in a statement to Ad Age. "What he did here was remarkable and pretty much unduplicated in the industry, moving us seamlessly from a single, weekly magazine to the diverse multimedia company we are today."
While he declined to provide revenue numbers, Mr. Burstein said New York magazine is "in a strong position," and pointed proudly to the fact that 60% of the company's revenue comes from digital.
He contrasted his magazine with some of the larger, legacy magazine businesses. "They're not going in the right direction because they have cultural shifts that need to be made, and they're not making them," he said. "We were all in."