"It's such a long title," M. Sellers noted, when we spoke to her this afternoon. "I need help shortening it."

Ms. Sellers will continue writing profiles for Fortune,  and writing her blog for the website, as well as helping create and develop new editorial ventures, such as live events and conferences at other titles.

"Congratulations to Pattie who has done such an incredible job of building up MPW, while continuing to write great stories for the magazine as well as pieces and major breaking news for the website on her blog Postcard," Andy Serwer, Fortune's managing editor, wrote in a staff memo. "I am delighted that she is in a win/win situation where she can spread her wings on exciting new projects while staying in the Fortune fold."

Ms. Sellers, who has been at Fortune, since 1984, wrote a cover story on Carly Fiorina, 1998's most powerful woman, when the annual Most Powerful Women issue debuted fifteen years ago.

"It's like my baby I nurtured and loved," Ms. Sellers said about the Most Power Women Summit.  "But I wanted to do more things, I was getting restless playing in the same sandbox."

Ms. Sellers spoke to Mr. Serwer about expanding her role at Time Inc.

"The magazines at Time Inc. had been siloed," Ms. Sellers explained. "But [Time Inc. CEO] Laura [Lang] is all about knocking down silos." Ms. Sellers presented Ms. Lang and Time Inc. editor in chief Martha Nelson with ideas for ways to expand live content through events and conferences across the titles. They responded by creating a crafting a new job for Ms. Sellers. 

"At a time when all media companies are reassessing what they do and all have really tight budgets, t's really refreshing to be at a company that isn't in hunker down mode," Ms. Sellers said.

"I'm still here," Ms. Sellers said, when we brought up the recent layoffs at Time Inc., which cut around six percent of the global staff from the company.