Senior deputy editor Paul Ramadge will step into Mr Jaspan's role as acting editor-in-chief until a permanent choice is made, the company said in an internal email.

"The company has decided that for this next critical stage of The Age we would have fresh editorial and executive leadership," said Don Churchill, chief executive and publisher of Fairfax's Victorian metropolitain and community publishing, in the email.

"Under Andrew's editorship, The Age benefited from an innovative redesign and consistent, strong growth in circulation and readership, and agenda-setting journalism," the emailed statement said.

"The Age was named Newspaper of the Year by PANPA in 2007, one of the industry's highest honours. The company is discussing with Andrew the ways his skills and expertise can be made available within the company."

Mr Jaspan came to The Age from The Sunday Herald in Scotland where he had been editor since 1999.

Mr Jaspan's exit from the editor-in-chief role comes one day after the head of The Age's newspaper sales and marketing Antony Catalano resigned following management changes, with a new head of sales position to be occupied by The Age's advertising director David Hoath.

Fairfax shares rose yesterday on news that the company would seek job cuts in its metropolitan newspaper division, including about 165 editorial staff. The unit publishes The Age and the Sydney Morning Herald.

Fairfax shares gave up yesterday's gains, losing 15 cents, or about 5%, to trade recently at $2.83.