The WSJ is reporting that Eric Pooley, the editor in chief of Time Europe is replacing Rik Kirkland as editor (ahem, "managing editor") of Fortune. From the article:

Eric Pooley is expected to be named the new managing editor of Time Inc.'s Fortune magazine, according to people familiar with the situation.

Mr. Pooley, who has been editor of Time Europe, will succeed Rik Kirkland, who told his staff today that he would step down as the publication's top editor effective April 1...

Mr. Pooley is known as a hard-working and demanding editor whose tenure at Time Europe impressed his bosses in New York. His lack of a strong background in business journalism is striking but not altogether surprising. Mr. Pearlstine and particularly Mr. Huey have sometimes been aggressive about shaking up the culture of venerable magazines in their stable. In 2002, they surprised many Time Inc.-watchers by installing an outsider, Terry McDonell, as managing editor of Sports Illustrated.