Bookseller Waterstone’s has revealed that commercial director Michael Neil and operations director Roger Childs will be leaving the business with immediate effect.

Waterstone’s was sold by HMV to Russian oligarch Alexander Mamut in May.

Outgoing managing director Dominic Myers said: “I am grateful to Roger and Michael for all they have done for the business, and I know they will be much missed by their teams and the wider industry. I wish them the very best for the future.”

Childs, who joined Waterstone’s in 2003 as regional manager, said: “I have enjoyed a very successful career at Waterstone’s, and would to like to thank all my colleagues for their support and hard work over the years.

“I am very pleased that the future of the company has been secured, but for myself, after nine years of commuting from Gloucestershire, I am looking forward to pursuing new opportunities closer to home.”

Neil, who joined Waterstone’s in February this year, said:  “I have had a great time and amazing support from the team at Waterstone’s, and hope they and the company thrive under the leadership of James Daunt. I wish everyone at Waterstone’s the very best for the future.”

It is not known if they have jobs to go to.