After a 22-year run at Conde Nast Publications — the publisher of Vogue, Vanity Fair, The New Yorker, Glamour and GQ — Charles Townsend is stepping down as chairman of the company, The New York Post reports.

Townsend announced Tuesday that he will step down Dec. 31.

The move “comes as sweeping changes overtake most of the legacy publishers in print and newspapers,” The Post notes. “At Conde, the changes also included Townsend handing off the chief executive title in January to President Bob Sauerberg.”

The report notes that Conde Nast is restructuring, with former AOL executive Jim Norton joining the company last month as chief business officer and president of revenue.

In an email to staffers, Townsend said: “The business world is hard at work reinventing itself. Every sector, every established company, is radically adjusting to the new economic order and the transformation to digitally driven connections with clients and consumers. Conde Nast is no exception.”