Newcombe, a former IPC publishing director, is rejoining IPC as the publishing director of Marie Claire within IPC's Southbank division.
She most recently ran Cube3, the Associated Contract division, which folded earlier this year. She had left IPC in 1999 to join Omnicom's contract publisher, Premier Media.
Newcombe spent ten years in her first spell at IPC and launched Now in 1996, which became one of IPC's most successful launches.
She has now been handed the task of reviving fortunes at Marie Claire, which saw its circulation dip by 6 per cent to 376,476 in the last year.
Newcombe said: "Having hugely enjoyed my time with IPC in the 90s, I'm looking forward to rejoining one of the most progressive and successful publishers in the industry."
Sandy Whetton, the managing director of IPC Southbank, has made other changes. Kirsten Lee, Linda Swidenbank and Katy Egan have been promoted to the roles of publishing director.