Spratling is to take time out over the next few months, but declared an interest in taking on another management role at another media company.
Vivat Direct, the new company housing Reader's Digest UK, plans to put an interim chief executive in place, while Spratling will be available to help with any issues they have over the coming months.
The remaining management is still believed to have a significant stake in the business.
Company chairman Sean Cooper, who is also director of operations at its private equity backer Better Capital, expressed disappointment at Spratling's decision, and praised his "drive and determination" in helping to conclude the management buyout
Spratling, explaining his decision to move on, said Reader's Digest had been through a "maelstrom" in which he had not had a chance to draw breath.
He added: "It's been an interesting, if not somewhat challenging, last 12 to 18 months for me, with the parent company filing for Chapter 11, fairly high-profile negotiations with the Pensions Regulator and running a business that was put into administration, and then, ultimately securing the future of the business through a management buyout."
Prior to joining Reader's Digest in February 2008, Spratling was sales and marketing director at magazine publisher Future.
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