Mr McGhee said he wanted to pursue "broader challenges".
The editor of the Herald newspaper has resigned after two-and-a-half years in the job.
Charles McGhee has worked for the Herald and Times Group for 10 years. He previously edited its sister paper, the Evening Times.
Mr McGhee said he wanted to apply his experience to "some of the broader challenges within the media sector".
The Herald and Times Group's managing director, Tim Blott, said he had been a "tremendous editor".
There have been a number of job losses at the group in recent years amid efforts to cut costs. The issue of possible compulsory redundancies led to industrial action last year.
Mr McGhee has made no comment on speculation that he may have resigned in protest at cuts.
In a statement, he said his time at the group had been a "tremendous challenge".
He continued: "I remain passionate and optimistic about the role of newspapers in the multi-media age and I would now like to apply the experience I have gained over 30 years to some of the broader challenges within the media sector, both nationally and internationally."
It is understood he will be working a period of notice at the Herald before leaving the post.
The Herald and Times Group said it would appoint a successor in "due course".
James Doherty, the president of the National Union of Journalists, said: "If Charles McGhee has resigned over the budget cuts he has had to oversee, he will be applauded by every journalist, not only at Newsquest, but throughout the UK."
He continued: "I hope it is a principled stand he has taken, that there comes a point where further budget cuts become unacceptable if you are wanting a newspaper to thrive. If it is, it will send shockwaves around the industry."