Notonthehighstreet boss Simon Belsham has departed the retailer for personal reasons, Retail Week can reveal.

Simon Belsham June 2017

Belsham, who joined the online gifting marketplace as chief executive from Tesco in May 2015, will leave with immediate effect.

Chairman Darren Shapland, supported by chief commercial partner Ella d’Amato and chief financial officer David Phillips, will lead the business until Belsham’s successor is appointed.

Belsham said: “ is a unique and special business, with a strong purpose to support small creative businesses, a great team and a truly differentiated offering for customers.

“It’s been a privilege to have led the business during an important transition period for the company from the founders to the new management team and I’m proud of the progress we have made.”

Under Belsham, Notonthehighstreet recorded growing sales and narrowing losses, attracting £21m venture capital funding.

The etailer recorded a 19% rise in revenue to £38.7m for the year ended March 31, 2016, while losses narrowed to £1.6m.

Belsham’s exit follows that of chief technology officer Hugh Fahy, who quit the business just a year after joining it from Net-a-Porter.