Sky News' well-regarded executive editor John Ryley is to take over the running of the 24-hour news channel following the resignation of Nick Pollard.
Ryley, who has been at Sky News for more than decade, will officially take over the reins on September 1 after undertaking a two-month intensive business and finance course at Wharton University in the US.
He will return at the beginning of August for a four-week handover period with Mr Pollard.
The two executives have known each other for more than 20 years and Mr Pollard warmly saluted his friend as the "best television news executive of his generation".
"There couldn't be a better choice," Mr Pollard said. "He is a great journalist and an inspiring man. He will do a wonderful job as head of Sky News."
Ryley joined Sky News in 1995 as an executive producer, pioneering live coverage of major news events such as the Louise Woodward case in 1997, which secured the channel's biggest audience to date.
He also produced Sky News' RTS award-winning coverage of Princess Diana's funeral and as executive editor took a leading role in the channel's coverage of the 9/11 attacks, for which it won its first Bafta.
In August 2002, Ryley was responsible for the controversial decision to devote the channel's output to coverage of the Soham murders, for which it again won a Bafta and an RTS award. Ryley began his career in television news as a graduate news trainee at the BBC, followed by a stint on BBC1's Nine O'Clock News.
He joined ITN in 1990 and went on to become assistant programme editor on News at Ten and edited all ITV's news shows. He was also programme editor of ITN's Early Evening News in 1994 on the day former Labour leader John Smith died, which also won an RTS award.
Dawn Airey, the managing director of Sky channels and services, said: "I'm thrilled that John will be succeeding Nick Pollard as head of Sky News. John has impeccable news credentials and has been a key part of the team for more than 10 years.
"In his new role, he will bring the energy and competitive spirit to lead Sky News forward in the years ahead."
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