Time Inc.'s New York headquarters.

Clifton Leaf is the new editor in chief of Fortune, Time Inc.’s business title. Leaf, most recently in the role of deputy editor, takes over the position held by Alan Murray, who was bumped up to chief content officer at Time Inc. in July as part of the company’s restructuring plans.

“Cliff Leaf has proven himself to be the perfect person to lead Fortune’s editorial efforts, in print, digital, and live events,” Murray said in an announcement.  “He has a fine eye for great stories, an effusive leadership style, and I’m sure he’ll do great things in this new assignment.”

As part of today’s announcement, Murray will take on the additional title of president of Fortune, and assistant managing editor Adam Lashinsky will become the executive editor of the magazine.

“I’ve had the privilege of working for — and learning from — five great top Fortune editors, from John Huey to Alan Murray, and I am honored to get the chance to shepherd this brand into the next decade,” Leaf said. 

This news comes at a time of uncertainty at Time Inc. After a series of shake-ups and reorganizations, the legacy media company has been exploring a sale and entertaining bids from several suitors, including Meredith Corp.

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