Leeann Dempster has stepped down from her role as Hibernian chief executive.
Hibs majority shareholder Ron Gordon expressed his disappointment at her departure but Dempster claimed the time was right to move on.
The former Motherwell chief executive said in a statement on the Hibernian website: "I think it is genuinely the right time, both for the club and for me, to move on to a new chapter.
"It has been an intense and fulfilling time of my life. I have grown to love the club and the Hibernian family, but the club is in good hands and has an exciting future ahead of it."
Dempster had to deal with the immediate aftermath of Hibs' relegation when she arrived at Easter Road in 2014 and leaves with the club in fourth place in the Scottish Premiership, under new ownership and with memories of their first Scottish Cup win in 114 years.
"I wanted to make sure Ron settled in following the transaction, and I think we have achieved that," she said. "I've enjoyed working with him and I have learned a lot in the process.
"Supporters should be optimistic and excited about Ron's plans for the club's future, and I know they will continue to support the club in the magnificent fashion that they have done during my time, especially during recent months when they absolutely stepped up when we most needed them.
"I thank every one of them for making this job such an enjoyable one. Now I look forward to the excitement of taking on a new challenge."
Gordon added: "I would have liked Leeann to stay. She has done a terrific job throughout her time at the club and I know how highly regarded she is by every supporter and within football.
"She has explained that she believes it is the right time for her and for the club – that she is ready to pursue a new and different challenge, and that she wants to spend more time with her family.
"She has obviously thought long and hard about this and we now have to accept and respect her view.
"I am happy to say she will work with us to ensure a smooth transition as we decide how to best move forward and thank her for her continued commitment to the club.
"She has definitely left her mark at Hibernian, and everyone at Hibs should be very grateful to her, I know I am, and all of us wish her every success."
The United States-based businessman added: "I know this development will be a surprise to supporters.
"I can assure them that Leeann has promised to stay in touch and has promised me she will always be available to help me, as she has from my first day at Hibs, with valued advice, guidance and support. I am forever grateful – she will most certainly be missed."
