A key leader in CBS3's news operation is leaving the company after barely serving two years in a crucial role, reports said.

Margaret Cronan, the station's vice president and news director, plans to leave the lucrative position and the broadcast journalism industry entirely, according to a Monday staff memo obtained by the Philadelphia Business Journal. The memo, reportedly sent by CBS3 general manager Brien Kennedy, said Cronan plans to launch a yet-to-be-announced venture with her brother that is expected to launch sometime this year.

"Margaret is very excited about the opportunity to run her own business," Kennedy said in the memo. "While we will miss her as a friend and colleague, I totally understand how great an opportunity like this can be."

Cronan, who was hired as part of the station's major overhaul in September 2015, will be replaced on an interim basis by assistant news director John Wilson. Cronan's last day is Monday,  the Journal reported.

Before joining CBS3, Cronan worked as a business and marketing officer for Philadelphia law firm Dilworth Paxson, and as chief communications officer for the National Constitution Center.