CENDANT Vacation Rental Group group managing director Martin Leppard is to step down next month to return to the private equity investment sector.

Leppard joined Cendant VRG when it formed in 2002 after selling the International Life Leisure business – which included the French Life brand – to the US conglomerate.

He has overseen a number of integrations following the purchases of the Holiday Cottages Group, Welcome Cottages, Individual Travellers Company and Canvas Holidays.

VRG operations director Geoff Cowley has been promoted to the position of managing director and will take over responsibility for the cottages, villas, boating and apartment brands.

Commercial director David Stamp has been promoted to director of camping, taking responsibility of the camping division that includes Canvas Holidays and French Life Camping.

“Now that the integration of the various businesses are complete, it’s the appropriate time for me to leave and seek new private equity opportunities,” Leppard said.