Incident is put on record; old editor to retire (7)
I believe the answer is:
episode
'incident' is the definition.
(I've seen this before)
'is put on record old editor to retire' is the wordplay.
'put on' is a charade indicator (letters next to each other).
'record' becomes 'ep'.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'editor' becomes 'ed'.
'to retire' is a reversal indicator.
'ed' backwards is 'de'.
'is' put after 'ep' is 'epis'.
'epis'+'o'+'de'='EPISODE'
(Other definitions for episode that I've seen before include "A chapter or incident" , "Instalment of a TV series" , "Story instalment" , "One part of a serial" , "Programme of a serial" .)