Southern Cross Media boss Rhys Holleran will leave the radio and TV broadcaster in July.
Mr Holleran will step down on July 31 after six years in the top job, with chairman Peter Bush assuming the role of executive chairman until a replacement chief executive is found.
Mr Bush said Southern Cross required a long-term leadership commitment against a background of an ever-changing media sector.
"Rhys and the board have come to the view that a change of leadership is now appropriate for both parties," Mr Bush said on Monday.
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