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Lionel Barber to step down as Financial Times editorBy CNN

Lionel Barber is stepping down after a 14-year tenure as editor of the Financial Times, the paper announced on Tuesday.

He will be replaced by Roula Khalaf, the FT's deputy editor since 2016. She will be the first woman to lead the storied UK newspaper.

Barber has spent 34 years with the paper, holding roles including Washington correspondent, Brussels bureau chief and news editor.

"It's been a rare privilege and pleasure to hold the best job in journalism," Barber said in a statement.

His tenure included a change in ownership that saw Japanese media group Nikkei purchase the FT from previous owner Pearson in 2015.

Tsuneo Kita, the chairman of Nikkei, said in a statement that Barber had "transformed" the FT and navigated an "unprecedented collaboration between the two newsrooms."

"Lionel and I have built personal trust over the last several years; it's very sad to see him leave the FT. However, both of us agree it is time to open a new chapter," said Kita.

Barber will remain FT editor through the UK general election, handing the reins to Khalaf in January.