The Economist announced Thursday the appointment of business affairs editor Zanny Minton Beddoes to the position of editor.

She is the 17th editor of the magazine and the first woman to hold the top job, according to a spokesperson for The Economist.

Beddoes succeeds John Micklethwait, who was recently appointed editor-in-chief of Bloomberg News, succeeding founding editor Matthew Winkler.

Here's the release:

The Economist Group announced today (January 22nd) that Zanny Minton Beddoes has been named as the 17th editor of The Economist.

She succeeds John Micklethwait, the editor for the past nine years, during which time the circulation grew from 1.1 million to 1.6 million. Zanny is currently The Economist’s business affairs editor, overseeing the newspaper’s business, finance, economics, science and technology coverage. She previously served as its economics editor. She joined The Economist in 1994, after spending two years as an economist at the International Monetary Fund.

Rupert Pennant-Rea, chairman of The Economist Group, as well as a former editor of The Economist, said:

“The Board has chosen Zanny as editor, someone who is a fine leader, with long experience on the paper. She will be a true advocate for The Economist and its values.”

Zanny Minton Beddoes said:

“I am delighted to be given the opportunity to edit The Economist. It is one of journalism’s great institutions, with an extraordinarily talented staff.”

She takes up her appointment on February 2nd.