Simon Rider, the chief executive of womenswear retailer Phase Eight, has left the company.
Phase Eight confirmed that Rider had left to " to pursue other executive opportunities."
Rider is expected to remain a shareholder of the business and is believed to be acting as a consultant to the board.
Rider joined Phase Eight in July 2007 from Footlocker where he was president of Footlocker Europe.
Phase Eight is backed by Kaupthing, one of the Icelandic banks that collapsed last month.
Phase Eight's clothes and accessories, aimed at 30- to 40-something women, are sold at some 70 shops and 90 concessions.
Rider was unavailable for comment.