Patrick McCarthy, the current head of Conde Nast's Fairchild Fashion Group, has already announced that he's leaving at the end of the year. Conde has just named his replacement: none other than beloved former New York Observer editor Peter Kaplan.

Kaplan has been biding his time at Conde Nast Traveler for almost a year now. (And fake Twittering.) In his new role, he'll oversee the editorial side of "WWD,, Footwear News, Menswear, Fairchild Summits, Fairchild Books, and trade shows."