Revered head of board removing editor (7)
I believe the answer is:
blessed
'revered' is the definition.
(both can mean worshipped)
'head of board removing editor' is the wordplay.
'head of' indicates taking the first letters.
'removing' becomes 'less' (less can mean minus or removing).
'editor' becomes 'ed' (abbreviation).
The initial letter of 'board' is 'b'.
'b'+'less'+'ed'='BLESSED'
(Other definitions for blessed that I've seen before include "Consecrated" , "Bedless (anag.)" , "Made lucky - made holy" , "worthy of respect" , "Sanctified" .)