This post has been updated.

Robb Report, a luxury lifestyle magazine based in Malibu, announced Thursday that Stephen Colvin will be the company’s chief executive as of Nov. 23.

Bill Curtis, the company’s current chief executive, will retain become vice chairman of the board.

“After 15 years building media companies, I’ve decided to focus on expanded board-level duties, along with a new consulting role here at Robb Report, in order to allow me time to develop other businesses,” Curtis said in a statement. “I’ve always been an entrepreneur at heart, and I feel this is an exciting time to build something new.”

Robb Report, which was acquired in 2014 by Rockbridge Growth Equity, a Detroit-based private equity firm, is published by CurtCo Media. The magazine, published in nine languages, is planning to double its global footprint from 14 international editions to 30, the company said.

“This is an exciting time for the Robb Report brand – both domestically and internationally. With our rapidly growing digital presence, we are set to propel this iconic brand forward and expand upon our position as an industry-leading luxury media powerhouse. Bill has paved the way for this journey, one of which I am truly excited to embark on,” Colvin said in a statement.

Colvin most recently served as Executive in Residence at Lerer Hippeau Ventures, and was previously the chief executive of Newsweek and The Daily Beast and executive vice president of CBS Interactive.