Jill Abramson, a former investigative reporter who rose to prominence as a Washington correspondent and editor, will become the next executive editor of The New York Times, succeeding Bill Keller, who is stepping down to become a full-time writer for the paper.

Ms. Abramson has been one of Mr. Keller’s two top deputies since 2003, serving at his side as he steered The Times through a period of journalistic distinction and economic distress. Mr. Keller said that with the paper’s finances now on surer footing, he felt at ease handing the reins to Ms. Abramson.

The move was accompanied by another shift in senior management. Dean Baquet, the Washington bureau chief and former editor of The Los Angeles Times, will become the managing editor for news.

Arthur Sulzberger Jr., the paper’s publisher and the chairman of The New York Times Company, thanked Mr. Keller, calling him a “truly valued partner” in a speech Thursday morning in the Times newsroom, where the staff stood shoulder to shoulder to hear the publisher announce the first changeover in the top editing jobs in eight years.