At one stage, Dylan Jones, who edits the Conde Nast title in the UK, was said to be in the running to replace the 65-year-old Cooper, who has worked at GQ for more than 20 years.
A number of other outside candidates were said to be in the running for the job including Dave Zinczenko of Men's Health.
Despite tough competition from British imports FHM and Maxim, which along with Men's Health dominate the US men's market, GQ saw its newsstand circulation rise 5.3% in the last half of 2002. Dennis's Maxim sells around 2m copies; Rodale's Men's Health sells around 1.7m copies; Emap's FHM sells more than 1m copies; and GQ around 800,000.
Nelson has been with GQ for five years, joining in June 1997, and was promoted to co-executive editor last year. Prior to GQ, Nelson was an editor at Harper's from 1994 to 1997 and also worked at CNN.
There was some debate over whether Cooper's departure was entirely voluntary. For the answer, insiders will have to wait for Cooper to publish his novel on life inside a US magazine giant. He leaves in June.
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