Ms Martha Lane Fox is to quit the day-to-day running of the lastminute.com venture she co-founded more than five years ago, it emerged today.
The 30-year-old wants to "explore other challenges", although she will remain on the board as a non-executive director.
The move came as lastminute announced its first full-year profit - £200,000 sterling against losses of £16.2 million a year earlier. Total transaction values during the period to September 30th more than doubled to £552.4 million.
She will be replaced as managing director by Mr Ian McCaig, who was appointed as chief operating officer in August. Co-founder Mr Brent Hoberman remains as chief executive.
Lastminute floated at the height of the dotcom boom in March 2000 before becoming one of the few ventures to survive the subsequent crash.
PA