First woman chief for NYT in 160 years!

Jill Abramson, a New York Times investigative reporter, will become the first woman executive editor of the newspaper in its 160-year history.

Abramson replaces Bill Keller, who is stepping down to become a full-time writer for the paper. Handling the post of managing editor since 2003, she joined the Times in 1997.

She has been the Washington editor in 1999 and Washington bureau chief in 2000. With the paper's finances now on surer footing, Keller said he felt at ease in handing the reins to Abramson.

"A couple of years ago, everybody was wringing their hands about doomsday for the news business," Keller said to the newspaper's staff. "People talked, some of them rather smugly, about even The New York Times not being long for this world. And now you look around, and we are economically sturdy. We are rich in talent. We are growing," he said.

NYT reported that Keller had steered the paper through difficult economic times in recent years.

Arthur Sulzberger Jr, the paper's publisher and chairman, welcomed the change in an address to the staff, NYT reported. "Jill, Bill's decision to step down may be bittersweet. But the thought of you as our next executive editor gives me and gives all of us great comfort and great confidence," he said.