Davis quit his job after failing to halt a decline in the title's rapidly dwindling circulation. He will be succeeded by Stevenson on April 8.
Stevenson, who is also a former deputy editor of celebrity magazine Heat, was recently outed by the Evening Standard as the man behind gossip website Popbitch and was tipped to take the job as Davis departed.
Davis, who joined the title in 1995 and is being kept on as a contributing editor, was promoted to editor from associate editor in 1999. He took over from Adam Higginbotham, who left after less than a year at the title, during which time the title's circulation fell 30% to 71,381.
In the two years since Davis took the reins, however, sales have declined even further, falling to 55,329 -- about half the 113,028 it was enjoying in 1996.
However, many feel it is doubtful that even someone with Stevenson's credentials can save the 22-year-old title and halt the sales decline that is affecting all style magazines. Sister title Arena has been similarly hard hit and Emap closed Sky last year.
Emap took control of Face publisher Wagadon Publishing in 1999, after rival publisher Conde Nast sold its 40% stake in the business.
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