For the first time in 37 years, there is a new editor of American Vogue. Anna Wintour has surrendered the title that transformed her into a titan of fashion and publishing, and handpicked a successor — sort of.

The role now belongs to Chloe Malle, the 39-year-old editor of Vogue’s website and co-host of its podcast, the publication said on Tuesday.

Rather than editor, though, Ms. Malle is the “head of editorial content” — a sign of how much the magazine business has changed since Vogue established itself as fashion’s monthly print bible, ruling the industry with a bejeweled iron first.

In 2025, Vogue is fending off the same threats as any other legacy media company. Modern editors are expected to devise new revenue streams, execute cinematic events and sell television series or lines of merch. Institutions that hesitated to adapt to the digital age (and now artificial intelligence) have bled money and power — scrambling to reach new audiences and hang on to their existing base.

Still, Vogue remains a center of gravity in media. For at least a decade, the industry has speculated wildly about who might replace Ms. Wintour, 75. For Ms. Malle, the question became a routine ”dinner party parlor game,” she said in an extended interview with The New York Times.

“The truth is that no one’s going to replace Anna,” said Ms. Malle, who begins her job immediately. What might have seemed like a moment of baton passing was complicated by Ms. Wintour’s unusual standing at Condé Nast, the publisher of Vogue.