Theo Fennell chief executive Barbara Snoad has left the jeweller for the second time in four years.
Snoad rejoined Theo Fennell in May 2009, following her first exit in 2007, to help turn the business around after a period of poor trading.
Founder Theo Fennell will take on the role of managing director for an interim period.
The retailer said it was “performing satisfactorily” in all areas despite issuing a profit warning earlier this year following poor Christmas trading when its like-for-likes plunged 7%.
Theo Fennell chairman Rupert Hambro said: “Barbara has been an integral part of a successful turnaround of the business during a challenging period.”