After decades of designing and producing every girl’s perfect prom dress, fashion designer Betsey Johnson’s reign at her company will soon be coming to an end.

“I should be retired. I’m basically screwing up because I’m not retired. I’d like to go in four days a month, something like that,” Johnson told New York Magazine. “My partner [Chantal Bacon] and I, we both want to know what would it be like to get up in the morning and go, ‘What do I do today?’”

Don’t worry—they’ve already found an heir (yes, it’s a guy!) to the throne: Eric Sartori.

Sartori, who has designed for Vera Wang and Hervé Léger, will be heading the brand. “He is the one. He’s much better than I am. He just has to Betsey-fy himself,” Johnson explained. The prom queen expects to hand over the responsibilities after the Fall/Winter 2009 show.

That’s not to say that she’ll be out of the picture, though…