New York Times publisher Arthur Ochs Sulzberger Jr announced on Thursday that he was stepping down after 25 years at the helm of the renowned newspaper and handing over to his son.

Arthur Gregg Sulzberger, 37, known as A.G., will take over as publisher on January 1, 2018, the New York Times Co. said in a statement.

A.G. Sulzberger will be the sixth member of the Ochs-Sulzberger family to serve as publisher since Adolph Ochs bought the newspaper in 1896.

Arthur Ochs Sulzberger, 66, who took over as publisher in 1992, will remain as chairman of the board of directors of the company, the Times said.

"This isn't a goodbye," Arthur Sulzberger said in a note to Times staff. "But, beginning in the new year, the grand ship that is The Times will be A.G.'s to steer."