The chief executive of the Irish and British arm of struggling package tour operator MyTravel resigned today in the wake of the firm's second profits warning in just over three months.
The company said Mr Duncan Wilson felt his current role had come to "a natural conclusion" and the board had accepted it was the appropriate time for him to move on.
Early last month, the Manchester-based group, formerly known as Airtours, said it expected to make a second half operating loss as a high proportion of holidays sold at knock-down prices to fill last-minute seats caused weaker than expected margins.
It also said conservative accounting policies had prompted fresh revisions to second-half profits estimates.
Today, the firm said the chief operating officer of MyTravel Group, Mr Philip Jansen, would take direct charge of the company's UK and Ireland businesses.
Mr Wilson would continue to be employed by the company for a period to ensure an effective management transition.