Snyder told staff Thursday that he will leave the politics and culture magazine after the June issue.

“New ownership often has new visions, and I think it makes sense, is typical, for there to be a change in editorial leadership,” Snyder told The Huffington Post. “And that’s all that happened.”

Snyder, a former editor at Gawker, who worked at Bloomberg and The Atlantic, has no immediate plans. "Everyone understood that it made sense for me to step aside and to let new editorial leadership come on," Snyder told CNN Money.

The magazine has been keeping mum on whether it has started the search for Snyder’s successor or if it already has someone in mind.

A spokesperson for The New Republic told Publishers Daily they did not have any additional details at this time.

Hamilton Fish, the former publisher of The Nation who McCormack brought to New Republic as publisher and editorial director in February, “will likely take over EIC duties for at least a while,” according to Talking New Media.

In a statement to staff, Snyder wrote: “We published some damn fine work, sometimes under difficult circumstances. Every single day, your indomitable talent and work ethic has humbled me.”

Snyder was appointed editor-in-chief of New Republic in December 2014, around the same time the publication celebrated its centennial and its top editors, dozens of staffers and contributing editors quit following disputes about the publication’s direction with Hughes and CEO Guy Vidra.

Hughes wanted to transition the magazine into a digital-focused media operation, but he had difficulty transforming the old and traditional publication, after reportedly investing more than $20 million in the endeavor.

The magazine cut the number of issues in half to 10 a year and moved its headquarters from its home in Washington, D.C. to New York.

Hughes announced in January that he wanted to sell the magazine and found McCormack, an Oregonian publishing executive and Democratic political donor, to take over the reigns.

In February, the Web site had 2.7 million visitors, its highest total since November 2014.