Vanity Fair says the magazine's Toronto-born editor Graydon Carter is leaving the publication after 25 years.
The magazine dubs it "the Grexit."
In an article on its website, accompanied by a portrait by famed photographer Annie Leibovitz, Vanity Fair says the 68-year-old declared it was "simply time" to move on.
Carter wrote for Time and Life magazines and co-founded the satirical Spy magazine before being named editor of Vanity Fair in 1992.
Carter told Vanity Fair he intends to spend six months in France with his wife and one of his five children after officially leaving the magazine.
He will then begin a new chapter of his life back in the U.S. in the second half of next year.
