Michael Loccisano/Getty Images for The Norman Mailer Center
Managing Editor at Rolling Stone Will Dana speaks onstage at the Norman Mailer Center's Fifth Annual Benefit Gala sponsored by Van Cleef & Arpels at the New York Public Library on October 17, 2013 in New York City.
His last day is August 7, according to the New York Times.
Dana's departure, after 19 years with Rolling Stone, comes at a time when the magazine is reeling from a botched exposè about an alleged rape on the campus of the University of Virginia.
For the story titled "A Rape on Campus," the magazine relied heavily on the accounts of an alleged victim named, "Jackie," whose accounts were widely debunked by multiple media reports.
And while the story's writer, Sabrina Rubin Erdely, and the magazine initially defended the piece, it never stood up to independent scrutiny.
Rolling Stones officially retracted the story months later, after the Columbia Graduate School of Journalism conducted its own analysis at the request of the magazine.
The review uncovered flaws that included "basic, even routine journalistic practice," according to the findings.
Several lawsuits against the magazine followed.
The magazine's publisher, Jan S. Wenner, did not imply whether Dana's departure was related to the UVA rape story, only saying in a statement cited by The Times that "many factors go into a decision like this." Wenner called Dana "one of the finest editors I have ever worked with."
It's not clear where Dana may be headed next. In his own statement released Wednesday night, he says "It has been a great ride, and I loved it even more than I imagined I would."