Hearst Magazines has announced a new management structure that it says makes up its “strongest possible management combination” to lead its stable of businesses.

As a result, longtime president Cathie Black has been named chairman. Replacing her as president will be David Carey [pictured], who until now served as group president at Condé Nast, where he oversaw several media properties. He led the launch of Portfolio and served as the founding publishing of SmartMoney, which formerly was a joint venture between Hearst and The Wall Street Journal.

UPDATE: A Condé Nast spokesperson tells FOLIO: that Carey’s position will not be replaced.

According to a Hearst spokesperson, Black—who was named Hearst Magazines president in 1995—was ready to change her role at the company. “[Hearst Corp. vice chairman and CEO Frank A. Bennack Jr.] and I have been talking about this move during the past year and it seems like exactly the right time,” Black says in a release announcing the management changes. “I look forward to providing leadership and strategic advice to both David [Carey] and the senior leaders as we work together to strengthen and expand our magazine brands, both in the U.S. and abroad.”

In addition, chief marketing officer Michael Clinton was promoted to president of marketing and publishing director of Hearst Magazines. John Loughlin will continue to serve as executive vice president and general manager of the group and Duncan J. Edwards will remain as president and CEO of Hearst Magazines International.

No layoffs were associated with the changes, the spokesperson says.