Sarah Chubb, long-time president of Conde Nast's Internet arm, is leaving the company in the wake of a broader reorganization that dramatically altered her role at the magazine company.

As president of Conde Nast Digital, Ms. Chubb oversaw the development of websites like Style.com, Epicurious.com and Concierge.com, which culled content from magazines like Vogue, Bon Appetit and Conde Nast Traveler.

Over the years, that structure made Conde Nast Digital a flashpoint inside and outside the company because it meant the individual magazine editors and publishers had little control over their digital editions. In the last couple years, more control of digital content has been dispensed to the magazines, a shift that culminated with a reorganization last fall that folded the sales and marketing operations of Conde Nast Digital into the rest of the empire.

Ms. Chubb said in an interview that her decision had nothing to do with that move, which she said she embraced. Her focus since then has shifted more to looking for acquisition opportunities. Conde Nast's parent company, Advance Publications, got back into the M&A game recently when it said it agreed to sell $500 million worth of shares in Discovery Communications and that it would use the proceeds to fund acquisitions and investments focused at least partly on adding to Conde Nast's digital portfolio.

At the same time, Advance said it hired former Yahoo executive Andrew Siegel to head strategy and corporate development.