G8 Education chairperson Jenny Hutson has quit in the wake of the company's failed attempt to buy rival childcare provider Affinity Education.
Ms Hudson will step down from the board on October 15 and non-executive director Matthew Reynolds will take over as acting chairman of a company that bases its business on the acquisition and integration of existing centres.
G8's $185 million cash and scrip offer for Affinity in August was rejected, allowing private equity firm Anchorage Capital Partners to step in with a $208.3 million cash bid that was recommended by the target's board.
G8 has now agreed to sell its 19.89 per cent stake in Affinity and Ms Hutson says "it is time for me to step aside and for there to be renewal at board level".
