Holiday Taxis chief executive Paul Stanyer has resigned to work on other business opportunities and spend more time with his family.

Stanyer, who founded the company and will remain a significant shareholder, said he felt it was the “right time” to go.

He added: “My plan is to take a month or two off to spend with my family and relax. This has been my life for eight years and it’s being fantastic but I feel like I want to try something else now.

“We won a Globe award earlier this year, a couple of other awards last year, we made the Times Fasttrack Top 100 companies for two years running and it just occurred to me that this is a pretty good time to move on.

“There are a couple of interesting things I’ve been looking at although I can’t talk about them at the moment and for the time being I’m just looking forward to spending lots of time with my family.”

Former finance director Peter Hilton will become chief executive and Ian Coyle is joining the board as sales and marketing director.

Chairman Brendan Breslin said: “I fully respect Paul’s decision and would like to extend my personal thanks for his most valuable contribution.

“As a founding shareholder Paul was responsible for developing the business from start-up to the thriving market leading business it is today. We wish him every success in his future endeavours.

“Paul’s achievement has given us a solid base from which to develop the business. With Peter and Ian now in place, both of whom have considerable knowledge of the travel industry in their own right, and with the experience, expertise and

support of Sir Colin Chandler, Trevor Harding and LCF Rothschild I believe we have the winning team to drive the business forward.

“I am looking forward to working with them to realize the undoubted potential that the business still has.”