Pub operator Marston's has announced that chairman Roger Devlin has informed the board he will step down on 31 May.
In a statement to investors Marston's said the decision had been taken in light of Devlin's "other increased business commitments", revealing he will join the board of housebuilding company Persimmon as chairman on 1 June.
It added that the process to replace Devlin is underway and an update on succession will be provided in due course.
Devlin, who was appointed chairman in September 2013, said: "Marston's is a great business which has been transformed over recent years into the high quality pub portfolio and market-leading beer business which it comprises today.
"The company benefits from a strong board, well established leadership team and a clear strategic plan for continued growth. I have thoroughly enjoyed my time with the business and wish Ralph and the team continued success in the future."
CEO Ralph Findlay added: "On behalf of the board I would like to thank Roger for his contribution and counsel during his chairmanship of Marston's. He leaves with our best wishes and we wish him every success with his future endeavours and other business interests."
In January Marston's announced that the acquisition of the Charles Wells brewing business and the addition of 19 new-build pubs had boosted sales at pub operator Marston's by 4.9% in the proceeding four months.
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