John Micklethwait has been named the 16th editor of the Economistmagazine.
Micklethwait (43), who studied at Magdalen College, Oxford, described his new role as "the best job in journalism anywhere in the world".
He joined the weekly news and business publication in 1987 after working for Chase Manhattan Bank. He takes over from Bill Emmott, who stepped down from the post last month after 13 years.
His roles at the weekly, which has a circulation of 1.1 million, have included editing the business section for four years and setting up an office in Los Angeles, where he worked from 1990 to 1993.
Micklethwait, who also co-authored four books, was media correspondent prior to being bureau chief in New York. He then returned to London as the London-based US editor.
He takes up his appointment with immediate effect.