XL Leisure Group chief executive Peter Owen has resigned for personal reasons with immediate effect.
Deputy chairman and former chief executive Phil Wyatt will take over running the UK’s third largest tour operator and charter group for the time being. Wyatt led a management buy-out of XL in 2006.
Owen was credited with a major role in stabilising the business following several hundred redundancies last year.
He was scheduled to appear on stage at the Institute of Travel and Tourism conference in Cyprus on Tuesday, but pulled out at the last minute.Group commercial director Steve Barass stepped into his place at the conference.
Owen was also until recently chairman of Silverjet, the all-business airline that went into adminstration last month.