Young, who was named Business Editor of the year by the PPA in 2013, will now concentrate on growing The Drum in both New York and Singapore as well as the company's TV and events operations.
Lepitak will take on the responsibility for editing the website and magazine with immediate effect.
Young said: "The Drum has enjoyed great success over the last years, emerging as the Europe's largest website and winning a huge array of awards.”
On Lepitak, he added: "His energy, passion and commitment is certainly amazing, and much appreciated by the company, that is why I am confident he is the right person to take us forward.”
Lepitak commented: "It has been amazing to see this title develop into one that is read and enjoyed by the media and marketing industry around the world in recent years. I am lucky enough to work with an amazing team, within a company full of bright and enthusiastic individuals who love this business. The Drum will continue to grow and develop and I am sure that our readers continue to enjoy the content and events that we aim to bring them all year around.”
Lepitak joined The Drum as a reporter in 2006 from Newsquest and has gone on to hold the positions of news editor and online editor along the way.